Irda

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Irda - Total results - 93
Supreme Court seeks reply from Centre and IRDA on plea for inclusion of mental illness under insurance policies
India

Supreme Court seeks reply from Centre and IRDA on plea for inclusion of mental illness under insurance policies

The Supreme Court Tuesday sought response from the Centre and the Insurance Regulatory Development Authority (IRDA) on a plea alleging violation of provisions of Mental health law, which deals with the right to equality and non-discrimination. A bench of Justices RF Nariman, Navin Sinha and BR Gavai issued a notice on the plea and sought their responses.

Coronavirus Outbreak: IRDAI relaxes timeline for insurers to submit reinsurance plans for FY21
Business

Coronavirus Outbreak: IRDAI relaxes timeline for insurers to submit reinsurance plans for FY21

Similar steps are also initiated by governments of various countries which could result in disruption in the operations of reinsurers, IRDAI said.

CAIT urges govt to restrict e-commerce companies to sell only essential goods; seeks fiscal stimulus to tide over crisis
Business

CAIT urges govt to restrict e-commerce companies to sell only essential goods; seeks fiscal stimulus to tide over crisis

The CAIT urged Goyal and Paswan that the e-taliers should be allowed to sell only essential commodities and they should be directed to close their portals for rest of the products.

DPIIT notifies 100% FDI in insurance intermediaries under automatic approval route
Business

DPIIT notifies 100% FDI in insurance intermediaries under automatic approval route

The FDI policy earlier allowed 49 percent foreign investment in the insurance sector, which includes insurance intermediaries

IRDA slaps Rs 1 cr fine on Cholamandalam MS General Insurance; penalty to be paid within 15 days
Business

IRDA slaps Rs 1 cr fine on Cholamandalam MS General Insurance; penalty to be paid within 15 days

Cholamandalam MS General Insurance has to pay the penalty amount of Rs 1 crore within 15 days of receiving the order, according to news reports

Public listing of Life Insurance Corporation of India on cards; dilution to happen with sale of small tranche, says report
Business

Public listing of Life Insurance Corporation of India on cards; dilution to happen with sale of small tranche, says report

The process is in the early stage and has been discussed within the government, sources were quoted as saying in media reports

Govt mulls merger of state-owned general insurance companies with New India Assurance to create synergy
Business

Govt mulls merger of state-owned general insurance companies with New India Assurance to create synergy

The idea is to fast track stake sale in the public sector general insurance companies, which has been pending for the past two years, sources said

Govt plans to merge all four state-run insurers to form single, mega entity under New India Assurance Co
Business

Govt plans to merge all four state-run insurers to form single, mega entity under New India Assurance Co

The government is reportedly planning to form a single, mega entity by merging all four state-run insurers - New India, Oriental National, United India and New India Assurance

ESI contribution rate cut a step in right direction, but quality of services at hospitals leaves a lot to be desired
Business

ESI contribution rate cut a step in right direction, but quality of services at hospitals leaves a lot to be desired

With this reduction, the employers’ contribution to the ESI Act has been reduced to 3.25% from 4.75% and the employees’ contribution has been reduced to 0.75 percent from 1.75%.

IDBI Bank board seeks government approval for majority stake sale of 51% to LIC
Business

IDBI Bank board seeks government approval for majority stake sale of 51% to LIC

IDBI, which has the worst asset quality among all the banks with a 28 percent bad loan pile, said it has received a letter from LIC on Monday expressing interest to increase its holding to 51 percent through preferential allotment of shares or an open offer or a combination of both.

Insurance regulator IRDA permits LIC to pick up to 51 percent stake in debt-ridden IDBI Bank
Business

Insurance regulator IRDA permits LIC to pick up to 51 percent stake in debt-ridden IDBI Bank

LIC has been looking to enter the banking space by acquiring a stake in IDBI Bank as the deal is expected to provide business synergies

Ex-bureaucrat Subhash Chandra Khuntia to head insurance regulator IRDAI for three-years, succeeds TS Vijayan
Business

Ex-bureaucrat Subhash Chandra Khuntia to head insurance regulator IRDAI for three-years, succeeds TS Vijayan

Former IAS officer Subhash Chandra Khuntia was on Tuesday appointed as the new Chairman of Insurance Regulatory Development Authority of India (IRDAI)

PNB fraud: RBI had no clue on Rs 11,400 cr scam for seven long years; can a super regulator do the job?
India

PNB fraud: RBI had no clue on Rs 11,400 cr scam for seven long years; can a super regulator do the job?

The PNB fraud highlighted a larger systemic problem raising questions about the effectiveness of regulatory framework followed by Indian banking system, risk management practices and vulnerability of Indian banks to fraudulent transactions that extends across the border

Irda to insurers: Transfer unclaimed deposits to Senior Citizens' Welfare Fund by 1 March
Business

Irda to insurers: Transfer unclaimed deposits to Senior Citizens' Welfare Fund by 1 March

Insurance regulator Irda has asked all insurers to transfer the deposits of policyholders that have been laying unclaimed for over 10 years to the welfare fund by 1 March

LIC warns policyholders against sharing Aadhaar number through SMS; clarifies that it has not begun the facility to link Aadhaar
News & Analysis

LIC warns policyholders against sharing Aadhaar number through SMS; clarifies that it has not begun the facility to link Aadhaar

The notice further added that as and when LIC will enable linking of Aadhaar number with policies through SMS, its website will be updated with this option.

LIC cautions policyholders: Do not share Aadhaar through SMS, no such message sent
Business

LIC cautions policyholders: Do not share Aadhaar through SMS, no such message sent

As and when LIC will enable linking of Aadhaar number with policies through SMS, its website will be duly updated of this option.

Medical insurance bought this year is not enough for next year, says CEO of Cigna TTK Health Insurance
Business

Medical insurance bought this year is not enough for next year, says CEO of Cigna TTK Health Insurance

The only reason why we say insurance lags in digitization is because most consumers compare us to an amazon or Flipkart experience.

Regulatory blues: India's 1st private reinsurer mulls licence surrender
Business

Regulatory blues: India's 1st private reinsurer mulls licence surrender

Globally, reinsurers earn a premium that is three times their networth.

Anil Ambani's Reliance General Insurance plans IPO, valuation likely Rs 6,000 cr
Business

Anil Ambani's Reliance General Insurance plans IPO, valuation likely Rs 6,000 cr

This comes within days of another group firm -- Reliance Nippon Life Asset Management Company -- announcing plans to get listed.