{"id":288151,"date":"2023-03-30T18:00:55","date_gmt":"2023-03-30T12:30:55","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=288151"},"modified":"2023-03-29T18:04:56","modified_gmt":"2023-03-29T12:34:56","slug":"irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/","title":{"rendered":"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023"},"content":{"rendered":"<p><script type=\"text\/javascript\">\n\tdocument.title = 'Business Expenses for General or Health Insurance capped by IRDAI | SCC Blog'\n\tdocument.querySelector('meta[name=\"description\"]').setAttribute(\"content\", \"Additional Allowable Expenses granted vide IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations.\");\n<\/script><\/p>\n<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">On 27-3-2023, the Insurance Regulatory and Development Authority of India (&#8216;IRDAI&#8217;) notified the Insurance Regulatory and Development Authority of India (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023. The Rules will repeal the IRDAI (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations 2016.<\/p>\n<p style=\"margin-bottom: 3%;\"><b>Applicability:<\/b> The provisions will come into force on <b>1-4-2023 and will remain in force for a period of 3 years<\/b> and will be applicable to Insurers transacting General Insurance or Health Insurance business.<\/p>\n<p><b>Key Points:<\/b><\/p>\n<ol>\n<li>\n<p><b>Objective:<\/b> to enable and provide flexibility to the Insurers to manage their expenses within the overall limits based on their gross written premium to optimally utilize their resources for enhancing benefits to policyholders.<\/p>\n<\/li>\n<li>\n<p><b>Limit of Expenses:<\/b><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>Insurer carrying on General Insurance Business: <b>30% of gross premium<\/b> written in India in a financial year.<\/p>\n<\/li>\n<li>\n<p>Insurer carrying on Health Insurance Business: <b>35% of gross premium<\/b> written in India in a financial year.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p><b>Additional Allowable Expenses:<\/b><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p><span style=\"text-decoration: underline;\">Head Office Expenses:<\/span> insurer having his principal place of business in India and having branch offices outside India or having International Financial Service Centre Insurance office is allowed <b>10% of gross premium income<\/b> written outside India.<\/p>\n<\/li>\n<li>\n<p><span style=\"text-decoration: underline;\">Expenses incurred towards Rural sector, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jan Arogya Yojana and Pradhan Mantri Fasal Bima Yojana business or such other schemes as notified by the Authority:<\/span> Such allowance will not exceed <b>15% of the incremental premium\/ actual expenses of management\/ or 15% of gross direct premium.<\/b><\/p>\n<\/li>\n<li>\n<p><span style=\"text-decoration: underline;\">Expenses incurred towards &#8220;Insurtech&#8221; and &#8220;Insurance Awareness&#8221;:<\/span> <b>5% of the allowable expenses of management<\/b>.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p>The Authority (&#8216;IRDAI&#8217;) has the <b>power to exercise forbearance in case<\/b> an insurer exceeds the limits of expenses of management. Such forbearance may be exercised on a case-to-case basis in respect of insurers having duration of business upto 5 years.<\/p>\n<\/li>\n<li>\n<p><b>Compliance:<\/b><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>Expenses should be within the allowable limit. In case of excess, it will be charged to the Profit and Loss Account.<\/p>\n<\/li>\n<li>\n<p>No variable pay will be payable to Managing Director\/ Chief Executive Officer\/ Whole-Time Directors and Key Managerial Personnel if the amount of actual expenses exceeds by <b>10% of the projected expenses<\/b>.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On 27-3-2023, the Insurance Regulatory and Development Authority of India (&#8216;IRDAI&#8217;) notified the Insurance Regulatory and Development Authority of India (Expenses of <\/p>\n","protected":false},"author":67515,"featured_media":288159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[31731,56369,56370,29214,34847,42075],"class_list":["post-288151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-compliance","tag-expenses-of-management","tag-general-insurance","tag-health-insurance","tag-insurers","tag-irdai"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023 | SCC Times<\/title>\n<meta name=\"description\" content=\"On 27-3-2023, the Insurance Regulatory and Development Authority of India (\u2018IRDAI\u2019) notified the Insurance Regulatory\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023\" \/>\n<meta property=\"og:description\" content=\"On 27-3-2023, the Insurance Regulatory and Development Authority of India (\u2018IRDAI\u2019) notified the Insurance Regulatory\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-30T12:30:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png\" \/>\n\t<meta property=\"og:image:width\" content=\"867\" \/>\n\t<meta property=\"og:image:height\" content=\"580\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kriti\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kriti\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/\",\"name\":\"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023 | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png\",\"datePublished\":\"2023-03-30T12:30:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\"},\"description\":\"On 27-3-2023, the Insurance Regulatory and Development Authority of India (\u2018IRDAI\u2019) notified the Insurance Regulatory\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png\",\"width\":867,\"height\":580,\"caption\":\"IRDAI\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd\",\"name\":\"Kriti\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g\",\"caption\":\"Kriti\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023 | SCC Times","description":"On 27-3-2023, the Insurance Regulatory and Development Authority of India (\u2018IRDAI\u2019) notified the Insurance Regulatory","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/","og_locale":"en_US","og_type":"article","og_title":"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023","og_description":"On 27-3-2023, the Insurance Regulatory and Development Authority of India (\u2018IRDAI\u2019) notified the Insurance Regulatory","og_url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2023-03-30T12:30:55+00:00","og_image":[{"width":867,"height":580,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png","type":"image\/png"}],"author":"Kriti","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kriti","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/","url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/","name":"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023 | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png","datePublished":"2023-03-30T12:30:55+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd"},"description":"On 27-3-2023, the Insurance Regulatory and Development Authority of India (\u2018IRDAI\u2019) notified the Insurance Regulatory","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png","width":867,"height":580,"caption":"IRDAI"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/30\/irdai-notified-insurance-regulatory-and-development-authority-of-india-expenses-of-management-of-insurers-transacting-general-or-health-insurance-business-regulations-legal-research-legal-update-legal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/eba3a7deccde6b0aee12e1ce38c5ccfd","name":"Kriti","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bd399db894c8c7120c1692bc4678f14b48d0de98ac8612d875dfe6be68c65940?s=96&d=mm&r=g","caption":"Kriti"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/scc_8\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-925.png","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":318474,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/03\/27\/irdai-notifies-irdai-insurance-products-regulations-2024-legal-news\/","url_meta":{"origin":288151,"position":0},"title":"IRDAI (Insurance Products) Regulations, 2024","author":"Kriti","date":"March 27, 2024","format":false,"excerpt":"These regulations protect the interest of policyholders by enabling insurers to adopt good governance while designing and pricing the products.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Insurance Regulatory and Development Authority of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":319038,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/04\/01\/irdai-actuarial-finance-investment-functions-of-insurers-regulations-2024\/","url_meta":{"origin":288151,"position":1},"title":"IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024","author":"Kriti","date":"April 1, 2024","format":false,"excerpt":"The regulations apply to insurers including those engaged in reinsurance business.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Insurance Regulatory and Development Authority of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Insurance-Regulatory-and-Development-Authority-of-India.webp?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":288322,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/04\/03\/legislation-march-2023-17-stories-on-new-drugs-and-clinical-trials-development-methodology-revised-surrogacy-methods-of-treatment-revised-maximum-allowed-cf-for-emission-testing-introduced-sebi\/","url_meta":{"origin":288151,"position":2},"title":"LEGISLATION MARCH 2023 | 17+ Stories on New Drugs and Clinical Trials Development Methodology revised; Surrogacy Methods of Treatment revised; Maximum Allowed CF for Emission Testing introduced; SEBI Circulars &amp; more","author":"Kriti","date":"April 3, 2023","format":false,"excerpt":"MINISTRY OF FINANCE \u201cImplementation of Policies by groups\u201d introduced vide PML (Maintenance of Records) Amendment Rules, 2023 On 7-3-2023, the Ministry of Finance notified the Prevention of Money- laundering (Maintenance of Records) Amendment Rules, 2023 to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. The provisions came into\u2026","rel":"","context":"In &quot;Legal RoundUp&quot;","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/tmp_a43267b2-94d9-4609-afc3-6fd7e69d455b.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/tmp_a43267b2-94d9-4609-afc3-6fd7e69d455b.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/tmp_a43267b2-94d9-4609-afc3-6fd7e69d455b.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/tmp_a43267b2-94d9-4609-afc3-6fd7e69d455b.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":213441,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/04\/09\/irdai-obligatory-cession-for-financial-year-2019-20-applicable-to-indian-re-insurers-insurers-as-per-provisions-of-s-101-a-of-insurance-act-1938\/","url_meta":{"origin":288151,"position":3},"title":"IRDAI | Obligatory Cession for financial year 2019-20 &#8212; Applicable to Indian Re-Insurers &#038; Insurers as per provisions of S. 101 A of Insurance Act, 1938","author":"Bhumika Indulia","date":"April 9, 2019","format":false,"excerpt":"F. No IRDAI\/RI\/3\/154\/2019\u2014 In exercise of the powers conferred by Sub-section (2) and (4) of the Section 101A of the Insurance Act, 1938, the Authority, after consultation with the Advisory Committee, constituted under section 101B of the Insurance Act, 1938 and with the previous approval of the Central Government, hereby\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":226846,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/11\/irdai-guidelines-on-handling-of-claims-reported-under-corona-virus-insurers-advised-to-design-products-covering-costs-of-treatment-for-covid-19\/","url_meta":{"origin":288151,"position":4},"title":"IRDAI | Guidelines on handling of claims reported under Corona Virus; Insurers advised to design products covering costs of treatment for COVID-19","author":"Bhumika Indulia","date":"March 11, 2020","format":false,"excerpt":"1. \u00a0 In respect of the products filed and cleared as per the provisions of Guidelines on product filing in Health Insurance Business (Ref: IRDA\/HLT\/REG\/CIR\/150\/07\/2016) dated 29th July 2016, where coverage is granted for treatment of hospitalization expenses, in order to alleviate the hardships that may be caused to the\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":254068,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/11\/irdai-issues-irdai-trade-credit-insurance-guidelines-2021\/","url_meta":{"origin":288151,"position":5},"title":"IRDAI issues IRDAI (Trade Credit Insurance) Guidelines, 2021","author":"Prachi Bhardwaj","date":"September 11, 2021","format":false,"excerpt":"The Insurance Regulatory and Development Authority of India has published revised guidelines on Trade Credit insurance on 8th\u00a0September 2021. The guidelines shall come into force from November 1, 2021. \u00a0 Key highlights of the revised guidelines are: The guidelines set out the regulatory framework to: promote sustainable and healthy development\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/288151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=288151"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/288151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/288159"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=288151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=288151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=288151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}