CANCELLATION OF BROKER LICENSE NO.374, IRDA Circular/BRK/ORD/LC/001/01/2013, Dt: 02/01/13

Whereas M/S AMBIT INSURANCE BROKING & ADVISORY PVT LETD. (hereinafter referred to as the ‘Broker’), having its Registered Office at ‘Ambit House’, 449, Senapati Bapat Marg, Lower Parel, Mumbai 40001 has been granted license by the Authority to act as a Direct Broker vide License No.374 w.e.f. 6.5.2008 for a period of three years pursuant to the provisions of the IRDA (Insurance Brokers) Regulations, 2012. Read more

IRDA Circular: Directions under Section 34 of the Insurance Act, 1938 In the matter of M/s SBI Life Insurance Company Limited

Whereas Clause C-4 of Guidelines on Group Insurance Policies given in Circular No. 015/IRDA/Life/Circular/GI Guidelines/2005 dated 14th July 2005prescribes that there shall be no other payment whether as management expenses or documentation expenses or profit commission or bulk discount or payment of any description, to the agent or corporate agent or group organizer or group manager. Read more

IRDA circular: Re-constitution of Committee of Surveyors and Loss Assessors in terms of

The Committee of Surveyors and Loss Assessors constituted vide order Ref. No.IRDA/NL/ORD/Misc.208/09/2011 dated 8th September, 2011, in terms of Regulation 11 of the Insurance Surveyors & Loss Assessors (Licensing, Professional requirements and Code of Conduct), Regulations, 2000 hereby stands re-constituted with immediate effect.

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IRDA News: Modification of Guidelines for Individual Agents for Persistency of Life Insurance Policies

Reference is invited to the captioned circular issued by the Authority. The Authority is in receipt of representations from the Industry seeking revisiting of certain provisions of the said circular. Accordingly, keeping in view the objective of ensuring higher levels of persistency of life insurance policies as also conserving the agency force, the Authority issues the following modifications.

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Health Insurance News: Health Insurance Portability

The IRDA, vide circular dated February 10, 2011, had issued guidelines on portability of health insurance policies which was to be introduced from 1st July 2011. Subsequently, on 24th June 2011, it was felt necessary to put in place a system to enable collection of data on the history Read more