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Insurance Regulatory and Development Authority of India
Insurance Regulatory and Development Authority of India News
Insurance Regulatory and Development Authority of India
06 Jan 2022
IRDAI to set up hubs on motor, property insurances to promote loss prevention
The decision to set up these hubs was based on the recommendations of a working group. There will be an advisory committee that will create a repository of past risk inspection reports. There will be two sub-committees within the advisory committee.
Saral Jeevan Beema
14 Jun 2021
What is the Saral Jeevan Bima Policy?
The government, through the Insurance Regulatory and Development Authority of India (IRDAI), passed a directive stating that all insurance companies must offer a standard and cheap term plan. This term plan called the Saral Jeevan Bima is on the lines of the standard health insurance policy – the Arogya Sanjeevani Policy. It shares similar features across all insurers and aims to make low-cost term insurance a widespread reality.
Insurance Regulatory and Development Authority of India
06 Apr 2021
New IRDAI rules for designing, pricing of general insurance products
New product filing guidelines. Companies to justify the pricing of the policy. New guidelines to protect the interests of policy holders.
Insurance Regulatory and Development Authority of India
08 Jul 2020
Insurers can offer Arogya Sanjeevani Policy for sum insured above Rs 5 lakh
The insurers can launch the modified policy with immediate effect.
IRDAI
29 Jun 2020
Suggest names for 3 insurance policies and win Rs 10,000 from Irdai
Participants are required to send their entries to Irdai by July 10.
Insurance Regulatory and Development Authority of India
11 May 2020
IRDAI extends Life Insurance policy premium payment date: Details here
Earlier, IRDAI had announced on March 23 2020 and April 4 2020, additional Grace Period of 30 days for the policies where premium fell due in the months of March 2020 and April 2020.
Insurance Regulatory and Development Authority of India
09 Sep 2019
IRDAI mulls idea to link your insurance premium to traffic violations
A High Powered committee has requested IRDAI to examine the establishing of a system of linking of motor insurance premium with traffic violations.
crop insurance
25 Mar 2019
Irdai asks insures for easy crop insurance claim settlement
Irdai, in a circular, said there is a need for effective implementation of crop insurance schemes.
IRDAI
08 May 2017
Irdai forms panel for reinsurance framework review
Insurance regulator Irdai has set up a 17-member committee to conduct a comprehensive review of the existing reinsurance framework.
Health insurance
26 Mar 2017
General insurance premium set to go up from April 1
Car, motorcycle and health insurance will cost more from April 1 with regulator Irdai giving go-ahead to insurers for revision in commission for agents. The change in premium after modification will be limited to +/- 5 per cent of the existing rates.
general insurance
20 Feb 2017
Irdai to form actuary panels for life, general insurers
General and life insurance companies will be able to engage actuaries as the regulator Irdai will soon form panel of such analysts.
E-commerce
11 Jun 2016
Insurance e-commerce draft policy lauded by insurance companies
Insurance companies are enthusiastic about the proposed guidelines on selling and servicing of policies through e-commerce platform that aims to do away completely with any kind of physical intervention.
Health insurance
13 May 2016
Soon, pay health insurance premium in instalments
IRDAI
17 Mar 2016
Irdai slaps Rs 15 lakh penalty on New India Assurance
Insurance regulator Irdai has slapped a penalty of Rs 15 lakh on public sector general insurer New India Assurance Co Limited for violating various insurance norms
Indian health insurance venture Max Bupa
23 Nov 2015
Bupa to acquire additional 23% stake in Max Bupa for Rs 191 crore
UK's Bupa will increase its stake in Indian health insurance venture Max Bupa by 23 per cent to 49 per cent for Rs 191 crore.
United India Insurance Company Ltd
23 Nov 2015
Absence of policy-holders' voice in the panel on motor insurance unfair: Insurance regulator
The absence of any representative to voice the views of motor insurance policy-holders in a committee set up by IRDAI to bring clarity and transparency in payouts made to auto dealers is unfair, say industry experts.
Securities Appellate Tribunal
03 May 2015
SAT may hear SBI Life case against IRDAI this week
The Securities Appellate Tribunal (SAT) has served a notice to Insurance Regulatory and Development Authority of India (IRDAI) in adjudication of a case relating to SBI Life, the life insurance arm of SBI.
IRDAI
26 Apr 2015
IRDAI wants insurers to stick to grievance redressal norms
IRDAI feels that this is giving rise to "aggravated customer dissatisfaction and escalation of complaints to higher authorities".
insurance
19 Mar 2015
Insurer cannot refuse third party insurance: IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) Thursday said that no insurer can refuse to underwrite third party insurance.
insurance
17 Mar 2015
Insurers to pay upto Rs 1cr fine on violations by agents: IRDAI
The country's insurance regulator Tuesday said an insurer will be responsible for all acts and omissions of its agents and will be liable to a penalty of up to Rs 1 crore.
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