Foreign exchange rules for insurance govern issuance, premium remittance and claim settlement across resident and non resident parties. Consolidated directions regulate issuance, premium collection, claim settlement, reinsurance and overseas accounts for life, general and health insurance under FEMA and IRDAI rules: residents may hold foreign insurer policies subject to RBI/LRS/IRDAI permissions; foreign currency policies and premium collections are permitted in defined situations; claims settlement in foreign currency is allowed under specified documentary and beneficiary conditions; reinsurance and foreign currency accounts for insurers follow board-approved programmes and IRDAI compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign exchange rules for insurance govern issuance, premium remittance and claim settlement across resident and non resident parties.
Consolidated directions regulate issuance, premium collection, claim settlement, reinsurance and overseas accounts for life, general and health insurance under FEMA and IRDAI rules: residents may hold foreign insurer policies subject to RBI/LRS/IRDAI permissions; foreign currency policies and premium collections are permitted in defined situations; claims settlement in foreign currency is allowed under specified documentary and beneficiary conditions; reinsurance and foreign currency accounts for insurers follow board-approved programmes and IRDAI compliance.
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