Discontinuation Of Atal Amrit Abhiyan By Government Of Assam

The Government of Assam on July 8th 2024, notified regarding the discontinuation of Atal Amrit Abhiyan in the state with effect from October 31st, 2023.
The following has been stated:

All the pre-authorizations and claims under AAA raised before 31st October, 2023 will be processed for payments as per the guidelines of the scheme.
The following has been stated
The pre-authorizations and claims raised after October 31st ,2023 will not be considered for payments. .

Important Provisions Of ESI Coming into Force in Manipur

On July 10, 2024 the Ministry of Labour and Employment issued a notification regarding the implementation of provisions under the Employees State Insurance Act, 1948 (ESI Act) in certain districts of Manipur namely , Bishnupur, Senapati, Ukhrul, Kangpokpi, Churchandpur and Thoubal. This development marks a crucial step towards enhancing social security measures for employees in the region. The provisions include:

Sections 38 to 43
Sections 45A, 45AA, 45B, 45C, 45D, 45E, 45F, 45G, 45H, and 45I
Sections 46 to 73
Section 74 and Section 75
Sub-sections (2) to (4) of Section 76
Section 82 and Section 83
This implementation is expected to significantly benefit employees in these districts by ensuring they have access to essential healthcare and financial support during times of need. The provisions include regulations on benefits such as medical care, maternity benefits, sickness benefits, and disablement benefits, among others.

Master Circular on Operations and Allied Matters of Insurers

The Insurance Regulatory and Development Authority of India has strengthened the governance measures on the operations and allied matters of the insurers in the Master Circular issued under part B of the IRDA (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024 repealing 11 circulars.

Master Circular on General Insurance Business repealing thirteen circulars

Provision of easy-to-understand insurance products tailored to meet individual needs of the customers, providing them with ample choices and enhancing their insurance
experience has now been enabled. The shift from rule based to principle-based
regulatory framework facilitates ease of doing business and encourages innovation, enabling reduction in the response time for emerging market needs.

Master Circular on Submission of Returns

Various regulatory returns numbering 60 required to be filed under these regulations/operational guidelines are now collated in one place and are issued as a Master Circular on Submission of Returns. 37 regulations consolidated into 7 regulations and additional 2 new regulations were notified, effective from 1st April 2024.

Master Circular on Life Insurance Products

This Master Circular provides necessary guidance on aspects pertaining to various provisions of the Insurance Regulatory and Development Authority of India (Insurance Products) Regulations, 2024 and applicable to all life insurers, unless otherwise specified.

IFSCA publishes IRDAI Master Circular to reinsurers

This strategic move underscores India’s commitment to creating a robust regulatory framework that not only safeguards domestic interests but also attracts global reinsurance players to invest and operate in mainland India or in the international side of India i.e. GIFT IFSC, under the aegis of International Financial Services Centres Authority (IFSCA).