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Regulation & Compliance

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

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145 published articles

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Regulation & Compliance

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August 7, 2026

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145 articles

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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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Regulation & Compliance - June 5, 2026 - 7 min read

DPDP Rules 2025 and the Insurance Compliance Timeline: What the Phased Clock Means for Insurers, Brokers and TPAs

The Digital Personal Data Protection Rules 2025, notified on 13 November 2025, put a phased clock on the obligations insurers, brokers and TPAs carry as Data Fiduciaries. This post sets out the three-stage sequence to 13 May 2027, what consent, breach notification and data-principal rights demand operationally, and how it intersects with the IRDAI cyber guidelines.

By Sarvada Editorial Team

Regulation & Compliance - June 5, 2026 - 13 min read

Jan Vishwas Act and the Decriminalisation Shift 2026: What Moving from Jail to Penalties Means for Liability Insurance

The Jan Vishwas (Amendment of Provisions) Act 2023 decriminalised 183 provisions across 42 central Acts, converting many criminal offences into civil and monetary penalties, with a Jan Vishwas 2.0 round in progress. This post explains what the shift from imprisonment to penalties means for corporate compliance risk and liability insurance, why fines and penalties are generally uninsurable, and how brokers should re-frame the compliance-risk conversation around D&O, management-liability and legal-expenses cover.

By Tarun Kumar Singh

Regulation & Compliance - June 4, 2026 - 14 min read

Bharatiya Nyaya Sanhita and Corporate Liability Insurance 2026: How the New Criminal Codes Reshape Director and Officer Exposure

From 1 July 2024 the Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita and Bharatiya Sakshya Adhiniyam replaced the IPC, CrPC and Evidence Act. This post sets out how the new criminal codes change corporate and director criminal exposure, what D&O, crime and legal-expenses cover must respond to, and how the criminal-acts exclusion and defence-cost advancement interact with the new offence and procedure framework.

By Tarun Kumar Singh

Regulation & Compliance - June 3, 2026 - 15 min read

IRDAI Information and Cyber Security Guidelines 2026: Broker and Intermediary Compliance Playbook

The IRDAI Information and Cyber Security Guidelines, 2026 set minimum standards and governance for all Regulated Entities, including brokers, corporate agents and web aggregators, with compliance from the current financial year. This post is a practical playbook for intermediaries covering governance, controls, incident reporting, vendor risk, CERT-In alignment and audit.

By Sarvada Editorial Team

Regulation & Compliance - June 2, 2026 - 25 min read

Competition Commission Merger Filings and Insurance Disclosure Implications for Indian Corporates 2026

CCI's Combination Regulations 2024 and the deal-value threshold have created insurance disclosure obligations within merger filings that affect W&I cover design, D&O run-off, environmental impairment cover, and cross-border integration risk for Indian corporates.

By Sarvada Editorial Team

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