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India
Tuli & Co
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.
Tuli & Co
The commission/remuneration and rewards payable to insurance agents and insurance intermediaries (such as insurance brokers, corporate agents, web aggregators and insurance marketing firms)...
Khaitan & Co LLP
With record high private equity deal activity in 2021, several deal trends have emerged – warranty and indemnity insurance being one such trend in private equity driven M&A deals.
IndusLaw
In this newsletter, we look at certain key regulatory and judicial developments, from the recently concluded quarter, for the insurance sector in India, including key regulatory...
Shardul Amarchand Mangaldas & Co
On May 2, 2022, a full bench of the Supreme Court of India ("SC") allowed an appeal filed by United India Insurance Co. Ltd. ("UIIC") against the order of the National Consumer Disputes Redressal Commission ("NCDRC")...
Khurana and Khurana
Title insurance is a form of indemnity insurance that protects a potential property owner against financial loss from defects in title to real property.
Tuli & Co
On 8 September 2021, the IRDAI had issued an "Exposure Draft on IRDAI (Surety Insurance Contracts) Guidelines 2021" with the objective of promoting and regulating surety insurance business in India, and invited comments from all stakeholders.
Phoenix Legal
The Hon'ble Supreme Court in a recent judgment in Sheth M L Vaduwala Eye Hospital v. Oriental Insurance Company Limited and Ors. held that a hospital could not claim to be indemnified under an insurance issued ...
S.S. Rana & Co. Advocates
Mental health, as a concept, is often overlooked in India, if not outright denigrated. In todays' fast paced uber competitive world, mental health is as important as physical health and should not be a taboo –
Tuli & Co
The issuance of Employee Stock Options (ESOPs) to Chief Executive Officer/Whole-time Director/Managing Director of Insurers has been expressly recognized since 2016...
Phoenix Legal
In a petition filed against Max Bupa Health Insurance Company Limited, the Bench of Justice Pratibha M. Singh of the Delhi High Court held that there can be no discrimination between insurance provided for mental illness ...
Tuli & Co
Stakeholders in Indian insurance companies have for several years now been seeking that the FDI limit for Indian insurance companies be increased to 74% in parity with the FDI limit applicable to Banking – Private Sector.
Shardul Amarchand Mangaldas & Co
On 30 December 2020, the Insurance Regulatory and Development Authority of India (IRDAI) held that the promoters of Sahara India Life Insurance Company Limited (Sahara Life),
Tuli & Co
In 2019, a number of pharmaceutical companies proceeded against GIC Re before the Delhi High Court to challenge the revision of reinsurance premium rates.
Tuli & Co
The control and acquisition of entities in India by foreign investors and private equity funds (PE Funds), is regulated by the foreign investment norms specified by the Reserve Bank of India (RBI)...
Tuli & Co
The Insurance Regulatory and Development Authority of India has powers under the Insurance Act 1938 to inspect and investigate Insurers and insurance intermediaries.
NovoJuris Legal
The Insurance Regulatory and Development Authority of India, via notification dated November 23, 2020, had released the IRDAI Regulations, 2020.
Singhania & Partners LLP, Solicitors and Advocates
On November 23, 2020, the IRDAI exercising its power under Sections 33(7) and 114A(2)(j) of the Insurance Act, 1938 read with Sections 14 and 26 of Insurance Regulatory and Development Authority Act of India, 1999 ...
Shardul Amarchand Mangaldas & Co
On September 4, 2020, the Insurance Regulatory and Development Authority of India ("IRDAI") notified its ‘Guidelines on Wellness and Preventive Features' ("Guidelines")
Ikigai Law
India does not have an established space policy governing liability and insurance issues. The pending Space Activities Bill, 2017 and the draft Space Based Communications Policy, 2020 hold private entities solely liable ...
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