Withdrawal of exemption from GST on services provided by IRDAI to Insurers
As per the MoF (Dept. of Revenue), GoI Notification No. 04/2022 – Central Tax (Rate), dt. 13th July, 2022 (effective from 18th July, 2022), the central tax (GST) exemption provided…
Applicability of Service Tax / GST on services provided by IRDAI to Insurance intermediaries
11/08/2022 As per the Order passed by the Commissioner (Appeals – I) in appeal no. HYD/SVTAXHYC/APP-025-022-23 (APP1) dated 22/06/2022, it is stated that the services provided by the Authority to…
Standards and Benchmarks for the Hospitals in the Provider Network
Reference is invited to IRDAI Circular ref: IRDAI/HLT/REG/MISC/199/07/2021 dated 23rdJuly, 2021 on the captioned subject with respect to the standards and benchmarks at clause (a)(i) and (ii) and clause (b)…
Accounting of Premium, claims and related expenses on estimation basis
Date : 15th June, 2022 ToCMD/ CEO of GIC and FRBs including Lloyds 1. At present, para 2 of Part I of Schedule B of the Insurance Regulatory and Development…
Rationalization of regulatory returns and other compliance requirements
Date : 10/06/2022 To,All Life Insurers With an objective to enhance ease of doing business and reduce compliance burden, it is decided to rationalize the regulatory returns and other compliance…
Solvency Margin for Crop Insurance Business
Date: 13 June, 2022 To all Non-Life Insurance Companies and Registered Indian Reinsurers, Foreign Reinsurance Branch offices including Lloyds India Branch. 1. This circular is issued in accordance with the…
Public Disclosures by FRBs/Lloyd’s India
Date: 03-06-2022 ToCEOs of all FRBs (including Lloyd’s India) 1. The Authority has received representations on the rationalization of compliance requirements on Public Disclosures of Foreign Reinsurance Branches (FRBs) and…
Filing of fire insurance products for Dwellings, Micro and Small Businesses 
Dated : 12th May, 2022 1. The Authority, vide notification F.No.IRDAI/Non-life Insurance/5/171/2020 de-notified erstwhile All India Fire Tariff (AIFT) for certain risks. Further, it was notified that with effect from…
Rationalization of certain compliance requirements
This circular is issued under section 14(2)(e) of the Insurance Regulatory and DevelopmentAuthority Act, 1999. It shall come into force with immediate effect. On preliminary review of the extant compliance…
Extension of timelines for sale and renewal of short term Covid specific health insurance policies
28th March,2022 ToAll Life, General and Stand Alone Health Insurers (Except AIC and ECGC) 1. Reference is invited to the short term Covid specific health insurance policies permitted to be…