Skip to main content
Categories
News
Back to News
News | 2015

A2ii Newsflash | July 2015: India adopts a new IRDA microinsurance regulation

On 13th March 2015, the Insurance Regulatory and Development Authority (IRDA) India introduced the revised Microinsurance Regulation (2015) which supersedes the existing regulations introduced in 2005. Withdrawal of all existing microinsurance products which do not meet the stipulations of the new regulation must be done by January 2016.

The new regulation makes a number of important amendments including to the guidance on product development, adjusting the risk coverage levels, permitting more entities to distribute microinsurance products and the training of microinsurance agents and their specified personnel. It also introduces a change in the existing compliance norms for insurance companies which had been established under the Rural and Social Sector Obligations (2002). Of particular note is the introduction of a new product category called micro variable life, a hybrid product category which offers the customer the benefit of systematic contribution with term insurance coverage.    

read more

The South African National Treasury and Financial Services Board release for consultation the draft Insurance Laws Bill 2015

In April 2015 the South African National Treasury (NT) and the Financial Services Board (FSB) published a draft of the Insurance Laws Bill 2015 (“the Bill”) for public comment. The draft Bill gives effect to the National Treasury’s (NT) Microinsurance Policy Document released in July 2011. It supports the development of an inclusive insurance sector through facilitating the provision of affordable insurance, while also introducing proportionate regulation and supervision of microinsurance both in terms of operations as well as in terms of providers.

The Bill is envisaged to replace the sections related to prudential supervision of the Long-term Insurance Act and the Short-term Insurance Acts of 1998 and is expected to become effective on 1 January 2016.

read more

Also in News

18.01.2021

Leadership and Diversity Program for Regulators: Scholarship opportunity by A2ii and the InsuResilience Global Partnership

more
22.12.2020

New interactive tool on A2ii website: Supervisory KPIs Lexicon

more
05.11.2020

A2ii Newsflash | Madagascar: the new Insurance Law for a healthy and inclusive financial services sector

more
26.10.2020

New times. Improved format. Continued commitment.

more
24.09.2020

A2ii Newsflash| Costa Rica Approves Inclusive Insurance Regulations

more
01.09.2020

A2ii Newsflash| National Bank of Ethiopia issues a Directive on Licensing and Supervision of Microinsurance Business

more
27.08.2020

Inclusive Insurance Training for Asian supervisors - last places are available

more
18.08.2020

A2ii scholarship for the ILO Insurance for Development course for supervisors available

more
21.07.2020

A2ii Newsflash| SUSEP Implements a Regulatory Sandbox Model in Brazil

more
01.07.2020

A2ii Newsflash| The Philippines Issues InsurTech Regulatory Sandbox Guidelines

more
30.03.2020

Covid-19 Insurance Supervisory Response Tracker

more
05.02.2020

An opportunity to provide your feedback: The IAIS Emerging Markets and Developing Economies Survey for all IAIS EMDE Members

more
21.01.2020

A2ii Newsflash| The SEC Pakistan Issues Regulatory Sandbox Guidelines

more
Microinsurance Master programme
29.11.2019

A2ii Scholarship for the Microinsurance Master accelerator programme for insurance supervisors

more
12.11.2019

ICP Self-Assessment Tool Launch

more
30.10.2019

Leadership and Diversity Program for Regulators: scholarship opportunity by A2ii and InsuResilience Global Partnership Secretariat

more
15.10.2019

A2ii Newsflash| The SSN Argentina launch their InsurTech Innovation Hub

more
02.10.2019

A2ii Newsflash| Kenya defines micro-insurance and index-based insurance in its primary legislation on insurance services

more
09.09.2019

Deadline for applications extended: The 2nd Inclusive Insurance Innovation Lab

more
04.09.2019

The A2ii releases its decennium publication: 'A2ii: 10 Years On'

more
21.08.2019

Celebrating 10 years of A2ii - #A2ii10

more
20.08.2019

The 2nd Inclusive Insurance Innovation Lab Call for Applications

more
12.07.2019

Watch the recording of the 16th Consultative Forum on Climate and Disaster Risk here!

more
07.05.2019

LIVE STREAMING: 15th Consultative Forum on Inclusive Insurance - Climate and disaster risk: building resilience, bridging the protection gap

more
12.04.2019

RegTech and SupTech: Implications for Supervision – A2ii-IAIS Consultation Call, March 2019

more
09.11.2017

Holistic approach to insurance is key to seeking solutions for smallholder farmers faced with natural disasters

more
06.11.2017

Insurance regulators and providers meet in Peru to seek solutions for smallholder farmers faced with natural disasters

more
01.11.2017

Global Agreement to Enhance Actuarial Skills

more
31.05.2017

Press release: Stakeholders come together to explore agricultural index based insurance as a tool for building resilience of farmers in Africa

more
31.05.2017

Stakeholders come together to explore agricultural index based insurance as a tool for building resilience of farmers in Africa - 10th consultative forum

more
23.02.2017

Insurance supervisors gather for the first Mobile Insurance Conference

more
06.07.2016

Press Release: Access to Insurance Initiative Governing Board announced

more
11.07.2015

A2ii Newsflash | October 2015: Uganda proposes new microinsurance regulation with reduced minimum capital requirement for microinsurers

more
06.07.2015

Save the date: IAIS-A2ii Consultation Call on "Risk-based Supervision in Inclusive Insurance "

more
28.10.2014

Reminder: Invitation to the 8th IAIS-A2ii Consultation Call on "Formalisation"

more
06.06.2014

Press Release: Policy Seminar and Consultative Forum Kigali

more
05.06.2014

Press Release Policy Seminar and Consultative Forum Kigali

more
12.07.2013

Responsible Finance Forum IV – Consumer Protection in Emerging Insurance Markets

more
11.07.2013

A2ii and IAIS Announce SAPR launch

more
07.11.2012

Press Release: Policy Seminar Tanzania on Access to Insurance

more
09.11.2011

Press Release: Policy Seminar Rio

more
11.07.2009

IAIS Press Release: Insurance Supervisors strengthen framework for sound insurance markets

more