Sat, Oct 26, 2024
The Insurance Regulatory and Development Authority of India (IRDAI) has proposed stricter regulations for insurance companies following recent data breaches, notably involving Star Health Insurance. New guidelines require firms to adopt an anti-fraud policy, establish independent Fraud Monitoring Units (FMUs), enhance cybersecurity, and conduct regular awareness programs. These measures aim to combat identity theft and financial loss associated with cyber fraud, ensuring better protection for policyholders and the integrity of the insurance industry.
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Fri, Aug 23, 2024
Insurance surety bonds are financial instruments, where insurers act as 'surety' and provide the financial guarantee that the contractor will fulfil its obligation as per the agreed terms.
Fri, Jun 21, 2024
Unit-linked or index-linked insurance products shall not be advertised as 'investment products', IRDAI said in a master circular dated June 19.
Tue, Apr 23, 2024
Health insurance for senior citizen over 65 years: Earlier, individuals could only purchase a new insurance policy till the age of 65, but with the new set of rules in place from April 1, anyone, regardless of age, can buy a new health insurance policy.
Fri, Apr 05, 2024
"IRDAI understands the transformative potential that digital technology can wield for revolutionizing the tech-savvy insurance sector. And it also acknowledges the urgent need for a regulatory framework that ensures the safety, security, and fairness of digital insurance practices."
Tue, Mar 05, 2024
After SC's intervention, an important meeting of General Insurance Council (GIC), National Health Authority (NHA), Department of Financial Services (DFS) and Insurance Regulatory and Development Authority of India (IRDAI) was held.
Sun, Sep 17, 2023
The applicant should preferably have at least 25 years of experience in the relevant area with a minimum of three years experience at a senior level, the Department of Financial Services said in an advertisement.
Mon, May 08, 2023
Insurance Regulatory and Development Authority of India (Irdai) has undertaken an initiative to enhance the reach and accessibility of insurance products across all Indian states. As part of this initiative, the regulator has collaborated with state governments to identify a lead insurer for each district.
Wed, Mar 01, 2023
The board of directors in its meeting held on February 28, 2023 has accorded approval for withdrawal of the process for divestment of bank's stake in Canara HSBC Life Insurance Co Ltd, PNB said in a regulatory filing.
Thu, Dec 08, 2022
The Insurance Regulatory and Development Authority of India (Irdai) has floated a draft on 'Long-Term Motor Products covering both Motor Third Party Insurance and Own Damage Insurance'.
Wed, Oct 26, 2022
The committee, headed by Irdai member Rakesh Joshi, has been tasked to identify the challenges in carrying out the health insurance business smoothly and make recommendations to facilitate ease of doing business.
Mon, Sep 19, 2022
In order to equip itself with the complexities of merger and acquisitions, the Insurance Regulatory and Development Authority of India (IRDAI) has started looking for consultants who can undertake valuation of state-owned and private sector insurers, and train its officials about valuation methodology and processes.
Wed, Aug 03, 2022
The Insurance Regulatory and Development Authority of India (IRDAI) has also proposed curbing of variable pay of the CEO/MD, Whole Time Directors and key management persons, if there is a deviation of over 10 percent of actual expenses over projected one and additional solvency is not maintained as stipulated.
Mon, Jul 04, 2022
IRDAI on Monday set a growth target for general and life insurance companies to make insurance products reach more people. A target of 5 years has been set for insurance companies. Zee Business Anurag Shah's report.
Fri, Jun 03, 2022
The Insurance Regulatory and Development Authority of India (Irdai) on Friday relaxed capital requirement for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
Wed, Nov 17, 2021
More than 80% of the insurers prefer a physical copy of their insurance document over the digital, according to the findings of a latest survey conducted by a Mumbai-based printers association.
Mon, Sep 13, 2021
Is the Indian insurance industry and more particularly the non-life sector moving towards administered price regime -- wonder industry experts citing the draft Insurance Regulatory and Development Authority of India (Insurance Information Bureau of India) Regulations 2021.
Wed, Jan 02, 2019
After getting many complaints in such cases, Insurance Regulatory and Development Authority has issued notices through newspapers and other media to create awareness among people so that they don't end up losing their money. Banks too from time to time caution consumers about such calls and ask them to immediately inform them or lodge complaint with the police.
Fri, Dec 28, 2018
If you are receiving spurious calls from unidentified persons offering you bonus or other benefits, you have to be cautious while responding to them otherwise you may invite trouble for you.
Sun, Sep 16, 2018
The new guideline will contribute to higher premium income for the companies selling motor insurance. However, chinks remain as customers will be bound to make long term premium without the freedom of choice to make a switch from one insurer to another, said an industry official on the condition of anonymity.
Sat, Aug 18, 2018
As rains and floods continued to wreak havoc in Kerala, insurance regulator Irdai today asked all insurance companies to set up special camps and make immediate payments against insurance claims.
Mon, Mar 27, 2017
As per a PTI report, the increase will be in addition to the enhanced third party motor insurance rates, which too will come into effect from April.
Sun, Mar 12, 2017
Public sector companies April-February premium increased by 29.6% to Rs 61,096.32 crore, from Rs 47,124.95 crore.
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