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Insurance Regulatory and Development Authority of India

IRDAI introduces "Customer Information Sheet" to simplify policy details for buyers

IRDAI introduces "Customer Information Sheet" to simplify policy details for buyers

Wed, Jun 12, 2024

The new set of reforms has introduced Customer Information Sheet (CIS) to provide clear and concise policy details including scope of coverage, exclusions, warranties, and claim settlement processes.

Ayush Ministry to sensitise insurance companies for affordable healthcare

Ayush Ministry to sensitise insurance companies for affordable healthcare

Sun, May 26, 2024

The programme, which will take place on May 27 at the All India Institute of Ayurveda (AIIA) in the national capital also aims to facilitate the empanelment of public and private Ayush hospitals for insurance coverage in India, the ministry said.

NPS Annuity: No need to submit separate form for this - What IRDAI said

NPS Annuity: No need to submit separate form for this - What IRDAI said

Tue, Sep 13, 2022

Now, the exit form of NPS will be treated as proposal form for purchasing annuity, thereby reducing the time and efforts of senior citizens as well as insurers, Irdai said.

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91% JUMP! Life insurers' new premium income rises to Rs 39,079 cr in July 2022

91% JUMP! Life insurers' new premium income rises to Rs 39,079 cr in July 2022

Tue, Aug 09, 2022

For LIC, the cumulative new premium in the first four months of the current fiscal was up by over 62 per cent to Rs 77,317.69 crore.

Irdai reduces solvency margin requirement for crop biz; to unlock Rs 1,400 crore funds

Irdai reduces solvency margin requirement for crop biz; to unlock Rs 1,400 crore funds

Tue, Jun 14, 2022

Regulator Irdai on Tuesday reduced the solvency margin requirement for general insurers providing crop insurance, a decision expected to unlock Rs 1,400 crore of funds for them to undertake more business.

Grace period for life insurance policies extended till May 31

Grace period for life insurance policies extended till May 31

Mon, May 11, 2020

The Insurance Regulatory and Development Authority of India (IRDAI) had on March 23 and April 4 announced additional grace period of 30 days for policies where premium was due in March and April to provide relief to the policy holders amid the nationwide lockdown.

Insurance: Aarogya Sanjeevani Policy will be a game-changer for you

Insurance: Aarogya Sanjeevani Policy will be a game-changer for you

Thu, Feb 27, 2020

Aarogya Sanjeevani Policy: New policy likely to increase competition among insurance companies benefitting customers

Third party motor insurance gets costlier; IRDAI issues new rates for cars, two-wheelers, other vehicles

Third party motor insurance gets costlier; IRDAI issues new rates for cars, two-wheelers, other vehicles

Wed, Jun 05, 2019

The third party premium rates are revised every year by the IRDAI after April 1.

Alert! No car insurance without valid PUC certificate, says IRDA

Alert! No car insurance without valid PUC certificate, says IRDA

Mon, Jul 09, 2018

The Insurance Regulatory and Development Authority of India ( IRDAI ) has asked insurance companies not to insure a vehicle unless it has a valid pollution under control (PUC) certificate

Car insurance: You will be able to save money; here is how

Car insurance: You will be able to save money; here is how

Thu, Mar 08, 2018

Car insurance: The Irdai proposes to more than double the premium on super-bikes (exceeding 350 cc) to Rs 2,323. Also, an increase has been proposed in the case of performance category bikes (150-350 cc).

Reliance Capital's insurance arm receives in-principle nod from IRDAI for IPO

Reliance Capital's insurance arm receives in-principle nod from IRDAI for IPO

Tue, Sep 05, 2017

Rakesh Jain, Executive Director and CEO, Reliance General Insurance had said, "The listing will enable retail investors to participate in this high growth and new wealth creation opportunity."

ICICI Prudential keen to buy Sahara Life Insurance

ICICI Prudential keen to buy Sahara Life Insurance

Tue, Jul 04, 2017

Sahara Life had sold 665 policies worth Rs 1.53 crore during the April-May period of the current fiscal. The company had collected a premium worth Rs 44.68 crore from 16,058 customers in 2016-17.

HDFC Life-Max Life merger on hold again as IRDA denies permission

HDFC Life-Max Life merger on hold again as IRDA denies permission

Fri, Jun 09, 2017

Max Life Insurance and HDFC Life had decided to merge to create a Rs 50,000 crore insurance company. However, IRDAI is not really pleased with their proposal and has turned down the scheme.

Non-life premia set to go up as regulator backs move

Non-life premia set to go up as regulator backs move

Mon, Mar 13, 2017

In fact, the insurance regulator IRDAI has also hinted at a premium hike especially in third-party motor premium and the group health insurance from April 1 when most of the renewals take place in the domestic general insurance market.

IRDAI imposes Rs 10 lakh penalty on SBI Life Insurance Company

IRDAI imposes Rs 10 lakh penalty on SBI Life Insurance Company

Thu, Sep 22, 2016

Regulator IRDAI has imposed a penalty of Rs 10 lakh on SBI Life Insurance Company for violations of various norms, including guidelines on accepting business from a corporate agent after the expiry of licence.

6 new players likely to enter reinsurance market in India by January 2017: IRDAI

6 new players likely to enter reinsurance market in India by January 2017: IRDAI

Sat, Sep 17, 2016

Up to six new players in the reinsurance market are likely to enter India by January 2017, the Insurance Regulatory and Development Authority of India (IRDAI) chief TS Vijayan, said at an Assocham event.

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