Launching a New Era in Health Insurance Regulation The Union finance ministry is spearheading an innovative venture to create a dedicated health insurance regulator, signaling a transformative shift in healthcare accessibility and affordability in India. This new development, poised to take the regulatory stage after the next government assumes office, underscores the ministry’s proactive stance in revolutionizing health insurance coverage for every Indian citizen. Early Actions and Collaborations Initiation of Consultations: The finance ministry has […]

Insurers to Reveal Insurance Claims and Corporate Governance: IRDAI Circular Introduction The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular on corporate governance for insurers, bringing forth a series of disclosure requirements for insurance companies. This circular aims to enhance transparency and accountability in the insurance sector. Let’s explore the key provisions and their implications in more detail. Disclosure Requirements for Insurance Companies The circular mandates insurers to disclose the […]

Understanding the IRDAI Cyber Security for insurance brokers In an era where digital transformation is rapid, the insurance sector stands at a crucial juncture, balancing innovation with security. Recognizing this dynamic, the Insurance Regulatory and Development Authority of India (IRDAI) introduced the comprehensive Cyber Security Guidelines in 2023, aimed at bolstering the digital infrastructure and resilience of insurance entities. This blog dissects the key facets of these guidelines, outlining their principles, objectives, and the actionable […]

IRDAI Omits Age Restriction on Health Insurance for 65-Year-Olds in India: All You Need to Know   The Insurance Regulatory and Development Authority of India (IRDAI) has made significant changes to health insurance regulations, removing the age limitation for individuals looking to purchase health insurance. This new rule allows those aged 65 and above to avail of new health insurance plans. In addition, the IRDAI has introduced guidelines to promote enhanced access to health insurance […]

New IRDAI Rules: Ensuring Better Protection for Health Insurance Policyholders Introduction Recent developments from the Insurance Regulatory and Development Authority of India (IRDAI) have brought about significant changes to the rules governing health insurance policies. These changes aim to provide  better protection and benefits for policyholders. This article will delve into the key takeaways from these changes and how they positively impact individuals seeking health insurance coverage. Reduction in Waiting and Moratorium Periods: Easing the […]