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Regulation & Compliance

Sarvada research, workflows, and commentary focused on regulation & compliance.

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Regulation & Compliance

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June 29, 2026

Lead storyRegulation & Compliance - June 29, 2026 - 5 min read

Section 63 Bharatiya Sakshya Adhiniyam and Electronic Evidence: The New Certificate Rules That Decide Whether Your Commercial Claim Survives in Court

CCTV footage, emails, telematics data and system logs now drive most contested commercial claims, and the rules for admitting them in court have changed. This post explains how Section 63 of the Bharatiya Sakshya Adhiniyam, 2023 replaces the old Section 65B, introduces a dual-certificate and hash-value regime, and why defective certification can sink a repudiation or a subrogation suit no matter how strong the underlying evidence is.

By Tarun Kumar Singh

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102 articles

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Regulation & Compliance - June 29, 2026 - 6 min read

The Bills of Lading Act 2025 and Rights of Suit: What India's New Maritime Title Law Means for Marine Cargo Claims and Subrogation

India has replaced its 169-year-old colonial bills of lading statute. The Bills of Lading Act, 2025 rewrites who can sue under a bill of lading and reaffirms the document's role as title to goods. This post explains what the change means for marine cargo insurers and traders: how rights of suit transfer to consignees and endorsees, why that matters for subrogation recoveries, and the practical claims implications for Indian exporters and importers.

By Tarun Kumar Singh

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Regulation & Compliance - June 29, 2026 - 5 min read

The Boilers Act 2025 and Machinery Breakdown Cover: How India's First Boiler-Law Overhaul in a Century Reshapes Engineering Insurance Compliance

The Boilers Act, 2025 repeals the 1923 statute after nearly a hundred years, rewriting registration, inspection and the offence regime for steam boilers. This post explains what underwriters and risk managers in sugar, textile, chemical and power plants should read into the change, how four retained criminal offences differ from the new fiscal penalties, and where the reform touches boiler explosion and machinery breakdown policy conditions.

By Tarun Kumar Singh

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Regulation & Compliance - June 29, 2026 - 5 min read

The Mediation Act 2023 and Commercial Insurance Disputes: Where Pre-Litigation Mediation Sits Alongside Arbitration and the Ombudsman in India

India now has a dedicated mediation statute, and it reorders the toolkit for resolving commercial insurance disputes. This post maps where the Mediation Act, 2023 sits next to arbitration clauses, the insurance ombudsman and consumer forums, why a mediated settlement agreement carries the force of a decree, and how it interacts with the mandatory pre-institution mediation already required for certain commercial suits.

By Tarun Kumar Singh

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Regulation & Compliance - June 28, 2026 - 6 min read

Bima-ASBA for Commercial Group Covers: How IRDAI's UPI Premium-Blocking Mandate Changes Proposal-to-Issuance Cash Flow for Brokers in India 2026

IRDAI's Bima-ASBA facility lets a policyholder block premium in their own bank account through a UPI mandate, with the money debited only when the insurer accepts the proposal. This post walks brokers and corporate risk managers through what that means for group health and other affected commercial placements: consent capture, the proposal-to-acceptance gap, the end of the refund cycle, and where the facility does and does not yet apply.

By Tarun Kumar Singh

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Regulation & Compliance - June 28, 2026 - 6 min read

GST on Co-Insurance Apportionment and Reinsurance Commission: What the Schedule III 'No Supply' Regularisation Means for Commercial Programme Costing in India

A 2024 amendment moved co-insurance premium apportionment and reinsurance commission into Schedule III of the CGST Act, treating them as neither goods nor services. This post explains, for brokers placing large co-insured risks, how the change removes a layer of GST from programme costing, what the retrospective 'as is where is' settlement covers, and the conditions the relief depends on.

By Tarun Kumar Singh

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Regulation & Compliance - June 25, 2026 - 10 min read

Bima Sugam's Zero-Commission, 5-7% Platform-Fee Model: What the New Economics Mean for Commercial Distribution in 2026

Bima Sugam goes live from July 2026 with motor first, then health in August and term in September, built on zero-commission standard products and a proposed 5-7% platform fee paid by insurers. This piece reads whether that model can ever touch commercial lines or stays a retail channel, and where the broker moat sits.

By Tarun Kumar Singh

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Regulation & Compliance - June 24, 2026 - 11 min read

IRDAI's Reinsurance Order-of-Preference Revision: What Trimming GIC Re's First Right Means for Commercial Capacity in 2026

IRDAI's 2026 exposure draft proposes to flatten the reinsurance order of preference and pare back GIC Re's right of first refusal, putting Indian reinsurers, foreign reinsurer branches, Lloyd's India and IFSC offices in the same first tier. For brokers placing jumbo fire and engineering risks, that reshapes capacity access and pricing power.

By Tarun Kumar Singh

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Regulation & Compliance - June 23, 2026 - 10 min read

IRDAI's 2026 Proposal to Let Insurers Merge With Non-Insurance Companies: Counterparty Risk for Commercial Buyers

IRDAI's 16 June 2026 exposure draft would permit insurers to amalgamate with their non-insurance holding companies, opening a more fluid consolidation regime. For corporate buyers and brokers, the live question is what happens to multi-year programmes, long-tail liability cover and counterparty credit when the carrier behind a policy changes hands.

By Tarun Kumar Singh

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Regulation & Compliance - June 22, 2026 - 10 min read

IRDAI Withholds CEO Variable Pay Over EOM Breaches: What the 2026 Glide-Path Crackdown Signals for Commercial Pricing Discipline

In May 2026 IRDAI withheld performance-linked pay of several insurer chief executives for missing expenses-of-management targets or board-approved glide paths. This piece reads the enforcement signal for commercial brokers: when EOM bites, insurers ration acquisition spend first, and that shows up as commission squeezes and harder pricing on competitive accounts.

By Tarun Kumar Singh

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Regulation & Compliance - June 21, 2026 - 9 min read

Bond Forwards and the FRA Exit: How Insurers' 2026 Hedging Shift Reads Through to Long-Tail Commercial Pricing

IRDAI has cleared insurers to use bond forwards for interest-rate hedging, and an estimated three and a half trillion rupees of derivative exposure is migrating out of forward rate agreements. This piece translates that asset-liability shift into what brokers should expect for long-duration liability and engineering pricing.

By Tarun Kumar Singh

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Regulation & Compliance - June 20, 2026 - 10 min read

IRDAI's March 2026 Finance and Investment Amendment: What Ind-AS Alignment Does to Insurer Asset Books and Your Capacity

IRDAI's 30 March 2026 amendment to the Actuarial, Finance and Investment Functions regulations forces insurers onto Ind-AS financial statements from 1 April 2026. The rewiring of how assets are measured and reported quietly reshapes which insurers can hold long-tail commercial risk, and brokers who read it place better.

By Tarun Kumar Singh

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Regulation & Compliance - June 19, 2026 - 10 min read

FEMA Non-Debt Instruments Second Amendment 2026: The Resident-KMP and FDI-Screening Conditions Behind 100% Foreign Ownership of Brokers

The headline says 100% foreign ownership of insurers and intermediaries. The fine print of the FEMA NDI Second Amendment, 2026, decides whether your deal clears: automatic route, a resident-Indian KMP rule, tighter beneficial-owner screening, and IRDAI fit-and-proper approval still gating every transaction.

By Tarun Kumar Singh

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Regulation & Compliance - June 18, 2026 - 9 min read

Designing Cover, Not Just Buying It: How Commercial Buyers Use IRDAI's 2024 Products Regulations and Use-and-File to Get Manuscript Wording, Add-Ons and Riders That Fit the Risk

The IRDAI (Insurance Products) Regulations 2024 and the use-and-file procedure let insurers design, customise and enrich commercial covers with manuscript wording, bespoke add-ons and riders without waiting in an approval queue. This piece is about product design from the commercial buyer's seat: how to brief an insurer's product team for tailored cover, which extensions and add-ons are worth building, how riders and endorsements should be drafted, and where an insurer's freedom to design runs out.

By Sarvada Editorial Team

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Regulation & Compliance - June 18, 2026 - 10 min read

IRDAI's New Regulation-Making Framework: How the June 2026 Draft Changes the Pace and Predictability of Commercial Insurance Rules

On 16-17 June 2026 IRDAI released a draft framework standardising how it frames, amends and consults on regulations under the 2025 Insurance Laws Amendment Act. For commercial brokers and risk managers, the procedural detail is an early-warning system: read the pipeline correctly and you get months of lead time on capacity, pricing and wording shifts.

By Tarun Kumar Singh

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Regulation & Compliance - June 17, 2026 - 9 min read

The Broker CISO's 2026 Workplan: Running the Audit, VAPT and Board-Reporting Side of IRDAI's Cyber Security Guidelines

IRDAI's revised cyber security guidelines hand a broking firm's Chief Information Security Officer a defined annual workplan: an independent reporting line free of business targets, a vulnerability-assessment and penetration-testing cadence, an annual third-party security audit with non-conformities closed on the clock, a tested incident-response lifecycle, and a board pack that turns all of it into decisions. This piece is written for the broker CISO and the board they answer to, setting out how to operationalise audit, VAPT and reporting rather than restating the rule text.

By Sarvada Editorial Team

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Regulation & Compliance - June 15, 2026 - 8 min read

Your Product Has Been Withdrawn: How Continuity, the Suitable-Alternative Duty and Grievance Routes Protect Commercial Buyers in India 2026

When an insurer retires the commercial product your cover is built on, what protects you is not the speed of the market but the policyholder-protection rules that govern withdrawal: prospective effect that ringfences your live policy, the insurer's duty to offer a suitable alternative, the migration to that alternative at renewal, and the grievance routes if it falls short. This piece explains the mechanics of withdrawal and modification, what continuity actually guarantees and what it does not, and how a buyer manages the migration so a retired product never becomes a coverage gap.

By Sarvada Editorial Team

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Regulation & Compliance - June 13, 2026 - 8 min read

IRDAI's Corporate Governance Framework in India 2026: What the Policyholder Protection and Claims-Monitoring Committee Means for Commercial Buyers

IRDAI's corporate governance framework mandates that every insurer board constitute a Policyholder Protection, Grievance Redressal and Claims Monitoring Committee, alongside risk, audit and other committees, with defined meeting cadence and quorum. This piece explains what these board-level structures are, why a commercial buyer should know they exist, and how to use them when a claim or grievance stalls.

By Sarvada Editorial Team

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Regulation & Compliance - June 12, 2026 - 12 min read

IRDAI's Risk-Based Capital Transition and What It Means for Commercial Insurance Pricing and Capacity in India 2026

IRDAI is moving Indian insurers from the factor-based, Solvency I style capital regime toward a risk-based capital framework that charges capital according to the risks an insurer actually carries. This post sets out the shift from factor-based to risk-based capital, the roadmap and timeline, how capital charges by risk class could reprice catastrophe-exposed and long-tail commercial lines, the effect on insurer appetite, and what corporate buyers should anticipate.

By Sarvada Editorial Team

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Regulation & Compliance - June 11, 2026 - 10 min read

IRDAI's Risk-Based Capital Move in India 2026: Reading Your Insurer Like a Credit Analyst Reads a Borrower

IRDAI's board has approved an Indian Risk-Based Capital framework, with draft regulations to follow and a transition running alongside Ind AS 117 from FY27. This piece is about one idea rather than a placement workflow: treat the carrier behind your programme as a credit counterparty, read its impairment likelihood and your reliance on it the way a treasurer reads a bank or a bond, and turn carrier default into a probability times a severity you can quantify before binding rather than discover after a loss lands.

By Sarvada Editorial Team

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Regulation & Compliance - June 10, 2026 - 7 min read

IRDAI Cyber Incident Reporting in 2026: The 6-Hour Window, 180-Day Logs and CISO Independence Playbook for Intermediaries

The IRDAI Information and Cyber Security Guidelines issued on 6 April 2026 tightened cyber-incident reporting to a six-hour CERT-In window, set 180-day rolling log retention, required CISO independence from the Head of IT, and pulled brokers, corporate agents, web aggregators, insurance marketing firms and TPAs into scope. This post is a practical readiness playbook for intermediaries and sets out the cyber-insurance read-through.

By Sarvada Editorial Team

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Regulation & Compliance - June 9, 2026 - 14 min read

The OSH Code 2020 and Employer Liability and Workers Compensation Insurance in India 2026: Consolidated Safety Duties and How Cover Responds

The Occupational Safety, Health and Working Conditions Code 2020 consolidates thirteen labour laws into a single statute governing factories, contract labour, inter-state migrant workers, safety committees and welfare. As the central rules and state rules are notified and implementation phases in, the consolidated safety and welfare duties reshape employer liability, and the way workmen compensation and employers liability cover responds turns on wage definitions, contractor liability and sum-insured design.

By Tarun Kumar Singh

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Regulation & Compliance - June 8, 2026 - 7 min read

Insurance Laws Amendment Act in Force from 5 February 2026: The Operational Compliance Map for 100% FDI

The Insurance Laws (Sabka Bima Sabki Raksha) Amendment Act 2025 commenced for most provisions on 5 February 2026, raising FDI to 100% under the automatic route with a resident chair or CEO condition, IRDAI approval for transfers above 5%, and enhanced IRDAI powers including disgorgement. This post sets out what changed against the earlier 74% regime and the operational compliance map for foreign entrants, M&A and broker firms.

By Sarvada Editorial Team

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Regulation & Compliance - June 7, 2026 - 14 min read

BIS Quality Control Orders and Product Liability and Recall Insurance in India 2026: How Mandatory Standards Reshape Manufacturer and Importer Exposure

The widening regime of mandatory BIS Quality Control Orders, issued by line ministries under the BIS Act 2016, is making ISI and BIS certification compulsory across steel, chemicals, electronics, toys, footwear and machinery. For manufacturers and importers, non-conforming goods now carry sharper product liability, market-withdrawal and recall exposure, and the way product-liability and product-recall policies respond turns on certification status, exclusions and supply-chain liability.

By Tarun Kumar Singh

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Regulation & Compliance - June 7, 2026 - 7 min read

The Four Labour Codes in Force: How the 50% Wage Definition Re-bases Employer Liability and Workers Compensation Cover in 2026

The four labour codes were brought into force together on 21 November 2025, and the statutory wage definition putting basic wages at no less than half of total remuneration re-bases gratuity, provident fund, ESI and the Employees Compensation quantum. This post works through what the change means for workers compensation, employers liability, gratuity-liability and employment-practices placements in 2026.

By Tarun Kumar Singh

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