IRDAI - Latest News, Analysis, Opinion

Surety bonds do not need security over assets and it will eventually increase trust in the insurance industry

IRDAI Approves Major Amendments; Insurance Companies Welcome The Move

The regulatory allowed insurers to invest in alternative insurers, sell debt and preferred stock without prior regulatory approval

New IRDAI Committee For Universalisation Of Health Insurance In India

The committee is also tasked with arriving at ways and means to increase the penetration of health insurance in India, including identifying issues and challenges in the entire value chain and making recommendations to overcome them

Irdai May Extend Testing Period To 3 Years Under Regulatory Sandbox

Panda noted that Irdai is looking at the possibility of allowing even smaller players into the insurance sector

IRDAI Reduces Solvency Margin Requirement For General Insurers

Irdai said it has reduced the solvency margin requirement for insurers doing crop business

Insurance Companies Can Launch Products Without Prior Approval: IRDAI

Doing away with seeking prior permissions has been a long-standing demand for the industry

Irdai Eases PMJJBY Capital Requirement To Encourage Insurer Participation

The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, translating into an increase from Rs 330 to Rs 436 annually effective June 1

People's Commission Urged The Government In February To Not Divest Its Stake In LIC

Arjun Yadav

The Peoples’ Commission on Public Sector and Public Services had urged the Union Cabinet Secretary to advise the Cabinet not to divest its stake in LIC and that no action be pursued on LIC disinvestment till a person heads IRDAI

Covid Health Insurance Policies To Also Cover Expenses For Treating Omicron: IRDAI

National

The regulator has issued the directive to general and health insurers in view of the growing number of cases of the Omicron variant.

IRDAI Permits Insurers To Sell Short-Term COVID Policies Till March 2022

The regulator had granted the relaxation last year after received representations from the insurance companies for exemption from the requirement to issue physical policy document and hard copy of proposal form in the wake of the Covid-19 pandemic.

No Noticeable Change In Insurance Coverage During Covid Pandemic: Govt

The total number of health insurance coverage, excluding personal accident and travel, in financial year 2019-20 was 49.87 crore, she said in a written reply.

Irdai Looking For Agency To Manage Its Grievance Redressal Centre

To provide alternative channels to receive complaints against insurers, it has set up the Irdai Grievance Call Centre (IGCC) that receives complaints through a toll-free telephone number and by e-mail.

Policybazaar Gets Insurance Broking Licence From IRDAI

The broking licence will allow the company to venture into segments which it could not do in the past like claims assistance, offline services, and establish Points of Presence network.

Non-Life Insurers' Gross Direct Premium Rises 11 % To Rs 12,316 Cr In May