Tuli & Co has authored the India Chapter of the 2024 edition of the Lexology In Depth – Insurance Disputes.

The Insurance Regulatory and Development Authority of India ("IRDAI") has introduced a new framework governing the outsourcing activities of Indian Insurance Companies, replacing the 2017 regulations, and representing a shift towards a more principal-based approach.

The Delhi High Court has affirmed that courts possess authority to appoint a sole arbitrator even if the arbitration clause provides for a three-member tribunal.

The Insurance Regulatory and Development Authority of India (“IRDAI”) has introduced a new framework for corporate governance for Insurance Companies.

The IRDAI has recently introduced new regulations that significantly impact the way insurance companies operate in India.

The IRDAI had issued an exposure draft on "Guidelines on Collateralized reinsurance transactions for placement of reinsurance business with CBR" on 20 February 2024 ("Draft Guidelines")

The Indian insurance sector has seen significant changes in recent years, driven by a number of varied regulatory reforms aimed at enhancing business ease as well as increasing insurance penetration in India.

On 11 August 2023, India's Central Government announced the country's first comprehensive data protection and privacy legislation, known as the Digital Personal Data Protection Act 2023 ("DPDP Act").

Tuli & Co has published the India Chapter of Insurance Litigation 2024.

Tuli & Co has published an article on the IRDAI (Re-insurance) (Amendment)Regulations 2023 (Amendment Regulations), which was notified on 23 August 2023

The article summarises the key developments in GIFT City at Gujrat, which various industry stakeholders believe, offers a potential for global insurers and reinsurers to open their operations.

Tuli & Co has published Insurance Comparative Guide: India.

Tuli & Co has authored The Eleventh Edition of the Insurance and Reinsurance Law Review. The Review provides a practical overview of the legal and regulatory framework governing the insurance and reinsurance industry across major jurisdictions worldwide and has been authored by leading insurance lawyers around the world.

The IRDAI has issued its Guidelines on the Remuneration of Non-Executive Directors and Key Managerial Persons of private sector Insurers, which supersedes its previous guidance of 5 August 2016.

Tuli & Co has provided its analysis on the Information And Cybersecurity Guidelines 2023.…

Tuli & Co has authored the India Chapter of Lexology GTDT Insurance & Reinsurance Guide 2023.…

Tuli & Co has authored the India Chapter of the Legal 500 Insurance & Reinsurance Comparative Guide 2023.…

The article summarizes the key provisions in the IRDAI (Payment of Commission) Regulations 2023 (the Commission Regulations), IRDAI (Expenses of Management of Insurers Transacting Life Insurance Business) Regulations 2023 (the EOM Life Regulations) and IRDAI (Expenses of Management of Insurers Transacting General & Health Insurance Business) Regulations 2023.

Tuli & Co has authored the Insurance Comparative Guide: India.

Our article on the IRDAI’s “Guidelines on Issuance of File Reference Numbers to Cross Border Re-insurers” has been published by International Law Office.…

Our article has been published on Mondaq on our analysis of the IRDAI’s “Guidelines on Issuance of File Reference Numbers to Cross Border Re-insurers”.…

We have authored the India Chapter of the International Comparative Legal Guide – Insurance & Reinsurance 2023. The pdf version of the Chapter is attached.…

We have authored the India Chapter of Lexology GTDT Insurance Litigation 2023. The pdf of the Chapter is attached.…

On 29 November 2022, following a comprehensive review of the insurance legislative framework in India by the Finance Ministry, the government of India issued a draft bill titled the Insurance Laws (Amendment) Bill 2022.

Our article on the IRDAI’s “Exposure Draft for Reinsurance 2022” been published on Insurance Newsletter.…

Our article on the IRDAI (Registration Of Indian Insurance Companies) Regulations 2022 has been published on Insurance Newsletter.…

Our analysis of the draft Bill titled "The Insurance Laws (Amendment) Bill, 2022" ("Draft Bill") released by the Government of India on 29 November 2022.…

Our comments on the exposure draft on the IRDAI (Registration of Indian Insurance Companies) Regulations 2022 ("Draft Regulations") issued on 13 October 2022 by the Insurance Regulatory and Development Authority of India ("IRDAI").

IRDAI has recently released further exposure drafts of 23 November 2022 on (i) the IRDAI (Payment of Commission) Regulations 2022 (ii) the IRDAI (Expenses of Management of Insurers Transacting Life Insurance Business) Regulations 2022 and (iii) the IRDAI (Expenses of Management of Insurers Transacting General & health Insurance Business) Regulations 2022.

Tuli & Co has contributed to the India Chapter of the Insurance Disputes Law Review.…

The IRDAI has released an exposure draft on the IRDAI (Registration of Indian Insurance Companies) Regulations 2022. The article analyses the proposed amendments in the Regulations.…

The primary legislation regulating the Indian insurance sector is the Insurance Act 1938 and the InsuranceRegulatory and Development Authority Act 1999.

The IRDAI has issued an exposure draft on the IRDAI (Re-insurance) (Amendment) Regulations 2022 of 21 October 2022…

In exercise of its powers as a regulatory authority under the Prevention of Money Laundering Act 2002 and Prevention of Money- Laundering (Maintenance of records) Rules 2005, the IRDAI has notified Master Guidelines on Anti-Money Laundering/ Counter Financing of Terrorism (AML/CFT) 2022”.

The IRDAI on 23 August 2002 has issued a exposure draft of the IRDAI (Payment of Commission or Renumeration or Reward to Insurance Agents and Insurance Intermediaries) Regulations 2022, which, amongst other things, proposes to lift the strict commission and regulation limits specified under the applicable Regulations and permit insurance companies to effectively self-regulate the amounts payable to insurance agents and insurance intermediaries through the policy approved by their board of directors.

In a recent landmark decision, the Bombay High Court has held that an Insurance Ombudsman's Award can be set aside in a writ petition on the ground of perversity…

The IRDAI has recently released an exposure draft on "IRDAI (Payment of Commission or Remuneration or Reward to Insurance Agents and Insurance Intermediaries) Regulations, 2022" of 23 August 2022 to promote the "development of new business models, products, strategies and internal processes", and to provide flexibility to Insurance Companies "to manage their expenses" along with the long-standing objective of improving insurance penetration…

The IRDAI Issued a press release on 26 April 2022 wherein they stated that with the objective of ensuring ease of doing business in the insurance sector, for both global and domestic investors, they have taken a major step in setting out a new mechanism for processing the…

On 1 April 2022, the Insurance Regulatory and Development Authority (IRDAI) (Surety Insurance Contracts) Guidelines 2022 came into force. The 2022 Guidelines follow the issuance of the Exposure Draft on IRDAI (Surety Insurance Contracts) Guidelines 2021 on 8 September 2021, which aimed to promote and regulate surety insurance businesses in India and invited comments from stakeholders (for further details please see "IRDAI drafts surety insurance guidelines")…

On 8 September 2021, the IRDAI had issued an “Exposure Draft on IRDAI (Surety Insurance Contracts) Guidelines 2021” (Draft Guidelines) with the objective of promoting and regulating surety insurance business in India, and invited comments from all stakeholder…

The worldwide surge in financial activities over the past decade or so has led to increased popularity of instruments such as surety bond and other forms of guarantees as creditors/owners increasingly look to rely upon these kinds of risk management mechanisms for certainty in the performance and fulfilment of the other party’s contractual obligations

Following the finance ministers budget speech, the Insurance (Amendment) Act of 2021 (Amendment Act) was notified earlier this year to increase the foreign direct investment limit in Indian insurance companies to 74%. Pursuant to this, the Ministry of Finance issued the Indian Insurance Companies (Foreign Investment)…

Following the announcement in the central budget speech for the financial year 2021–2022 that the foreign investment ceiling for insurance companies will increase from 49% to 74%, the Insurance (Amendment) Act 2021 (the Amendment Act) was notified with effect from 1 April 2021…

Following the announcement of the increase in the foreign investment ceiling in Indian insurance companies from 49% to 74% in the central budget speech for the nancial year 2021-22 (Budget Speech), the Insurance (Amendment) Act of 2021 (2021 Amendment) was notified with effect from 1 April 2021…

The issuance of Employee Stock Options (ESOPs) to Chief Executive Officer/Whole-time Director/Managing Director of Insurers has been expressly recognized since 2016 when the IRDAI issued the Guidelines on Remuneration of Non-executive Directors and Managing Director/Chief Executive Officer/Whole-time Directors of Insurers of 05 August 2016 (Guidelines)…