Irdai

IRDAI to mandate dematerialisation of new insurance policies by year end

The regulatory body has also asked the insurance companies to dematerialise the existing and old insurance policies. The deadline for it is set as December 2023, reported Live Mint

Revamped IRDAI grievance redressal mechanism 'Bima Bharosa' to enable customers file complaint in 13 regional languages

This is part of IRDAI's reform process to make redressal efficient and convenient for the complainants. The regulator in its recent board meeting took several decisions for the benefit of both customers and industry

Debasish Panda, ex-financial services secretary, appointed as IRDAI chief; to hold post for three years

The appointment of the IRDAI chairman comes nearly nine months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year

Rajya Sabha passes bill allowing 74% FDI in insurance sector amid Opposition walkout, ruckus

Finance Minister Nirmala Sitharaman said that insurance companies were facing liquidity pressure and the higher limit would help meet the growing capital requirement

Don't modify existing health insurance policies that leads to higher premium: IRDAI tells insurers

IRDAI has also directed the insurers to ensure that policy wordings are simple so that policyholders can understand them easily

Valid pollution control certificate a must to renew car insurance; not needed for claims: IRDAI

The apex court called on general insurance companies to ensure that the rule is followed scrupulously, with special focus on compliance in Delhi–NCR.

Coronavirus Outbreak: Nirmala Sitharaman chairs FSDC panel meeting, takes stock of economy

Finance Minister Nirmala Sitharaman on Thursday reviewed the state of the economy at the meeting of the Financial Stability and Development Council (FSDC), in view of disruptions caused by the COVID-19 pandemic

Nirmala Sitharaman calls FSDC panel meeting on Thursday, to discuss impact of COVID-19 on economy

Finance Minister Nirmala Sitharaman has called a meeting of the Financial Stability and Development Council (FSDC) on Thursday, which among other things will discuss the impact of COVID-19 on the financial sector and the economy

IRDAI sets up panel to draft standard professional indemnity policy for insurance intermediaries; asks to submit report in one month

Insurance intermediaries such as insurance brokers, insurance web aggregators, and corporate agent are required to take professional indemnity insurance policies governed by different regulations.

Life insurance companies register 11.4% growth in premium income in FY20; LIC logs 22.5% decline

India's life insurance companies clocked 11.36 percent growth in their collective premium income at Rs 48.26 lakh crore during the fiscal ended March 2020, data from IRDAI showed