IRDAI issued new exposure drafts

Nov 24, 2022 | by TeamLease RegTech Legal Research Team

Loading audio.....

Industry Specific ComplianceThe Insurance Regulatory and Development Authority of India (IRDAI) on November 23, issued new exposure drafts to regulate reforms and to bring more efficiencies in the business operations of the insurers, while due consideration is given to ensure the interests of the policyholders.

The following exposure drafts have been published:

• IRDAI (Expenses of Management of Insurers Transacting General or Health Insurance Business) Regulations, 2022, published on August 01, 2022. 

• IRDAI (Expenses of Management of Insurers Transacting Life Insurance Business) Regulations, 2022, published on August 02, 2022. 

• IRDAI (Payment of Commission or Remuneration or Reward to Insurance Agents and Insurance Intermediaries) Regulations, 2022, published on August 23, 2022. 

It is clarified that while various regulatory reforms initiated/taken up by the regulator are aimed at increasing insurance penetration and facilitating sustainable growth of the industry, efforts are made to ensure that all stakeholders' interests, particularly the policyholders, are taken into account consideration in the various measures undertaken.


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.