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ARTICLE · 09 MARCH 2018

Brokers Regulations 2018: Significant Changes And Impact

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The financial year 2017-18 has been an eventful year for the Indian insurance sector, with several landmark changes being introduced to the insurance regulatory framework.

IndiaInsurance
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Article by Celia Jenkins and Priya Misra

The financial year 2017-18 has been an eventful year for the Indian insurance sector, with several landmark changes being introduced to the insurance regulatory framework. Amongst others, the IRDAI issued the IRDAI (Insurance Web Aggregators) Regulations 2017, the IRDAI (Outsourcing of Activities by Indian Insurers) Regulations 2017, the IRDAI (Appointed Actuary) Regulations 2017 and the IRDAI (Protection of Policyholders' Interests) Regulations 2017, to update the existing regulatory framework. The IRDAI also issued the "Guidelines on Insurance e-commerce" of 9th March 2017 and the "Guidelines on Information and Cyber Security for insurers" of 7th April 2017 to take into account changes in modes of sales and servicing and address data security threats, respectively.

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