WebMay 28, 2024 · Set out below is the regulatory regime prescribed by the IRDAI with respect to data protection applicable to the insurance sector. It is pertinent to note that the regulations require strict compliance and that the IRDAI has, in the past, taken action for any breach thereof. 1 Regulatory Framework Governing Insurance Companies WebDec 1, 2024 · Under the IRDAI rules and regulations, insurers must carry out all core functions themselves. Only non-core activities can be outsourced to external service providers, under the IRDAI (Outsourcing of Activities by Indian Insurers) Regulations 2024. There are also periodic reporting requirements with the IRDAI for outsourcing agreements.

Insurance and Reinsurance in India: Overview Practical Law

WebMar 24, 2024 · IRDAI said the new regulations called 'Outsourcing of activities by insurers Regulations of 2024, will come into force from the date of their publication in the Official … WebOct 9, 2024 · IRDAI (Outsourcing of Activities by Indian Insurers) Regulations, 2024 – Pursuant to Regulation 12 insurers are required to ensure that the: The outsourcing service provider has adequate security policies to protect the confidentiality and security of policyholder information; brooklyn follies paul auster

PwC’s Insurance Insights Analysis of regulatory changes and …

WebInsurance Regulatory and Development Authority of India(IRDAI) is a statutory body set up for protecting the interests of the policyholders and regulating, promoting and ensuring … WebApr 10, 2024 · 2. In order to ensure effective management of attendant risks, the Statement on Developmental and Regulatory Policies dated February 10, 2024, proposed the … WebMay 7, 2024 · Irdai said the new regulations called 'Outsourcing of activities by insurers Regulations of 2024, will come into force from the date of their publication in the Official … brooklyn food delivery service