Calcutta HC Confirms KMC Can Revise Property Valuation to Levy Tax In ?11.24 Crore Dispute  ||  Bom HC Cancels Bail of Accused Supplying Fake Medicines, Says it Weakens Public Trust in Healthcare  ||  MP HC: Oral, Anal Sex Between Married Couples Not Punishable under Section 377 IPC  ||  SC Says Respect For Higher Court Orders a Basic Principle, Rebukes Authority For Revisiting Order  ||  SC: Merits of Foreign Arbitral Awards Cannot be Re-Examined During Enforcement Proceedings  ||  SC: Failure to Sign Charge Sheet Doesn’t Invalidate Trial if Charges Were Properly Read to Accused  ||  Delhi HC: Bipolar Disorder Alone Does Not Qualify as Medical Disability Without Benchmark Criteria  ||  Kerala HC: Excommunicating Knanaya Catholics For Marrying Outside the Community is Unconstitutional  ||  Kerala HC: Temporary Use of Religious Land For Public Infrastructure is Not a ‘Transfer’ under Law  ||  P&H HC: Habeas Plea in Child Custody Case Not Maintainable if Child is With Natural Guardian and Safe    

Modification of Surety Insurance Guidelines- (Insurance Regulatory and Development Authority) (12 Jan 2023)

MANU/IRDA/0004/2023

Insurance

1. In partial modification of IRDAI (Surety Insurance Contracts) Guidelines, 2022 issued vide Ref No. IRDAI/NL/GDL/SIC/01/01/2022 dated 3rd January, 2022 the following modifications are made.

2. The following provision is incorporated to Clause no. 6.1(b).

a. Provided the above cap is not applicable to mono-line surety insurance companies registered for doing surety insurance business on a standalone basis. The surety insurance business of mono-line surety insurance companies shall be subject to such prudential norms as may be specified from time to time.

3. Clause no. 6.4 (a) is substituted with the following clause

a. Surety Insurance Contracts may be offered in respect of commercial surety and contract surety requirements.

4. All other provisions of the within referred Surety Insurance Guidelines, 2022 shall remain unaltered.

5. This circular shall come into force with immediate effect

Tags : MODIFICATION   SURETY INSURANCE   GUIDELINES  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved