 "What is Insurance Regulatory and Development Authority of India (Irdai) ?")
IRDAI
What is Insurance Regulatory and Development Authority of India (Irdai) ?
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Latest Updates on IRDAI
Insurers knock on Irdai door for clarity on director overlap ban
Insurers seek Irdai clarity on a new law barring common directorships, a move that could disrupt boards of bank-backed insurance companies
 "Insurers knock on Irdai door for clarity on director overlap ban")
Insurers approach Irdai over common directorship rule in new Bill
Insurance companies have sought clarification from Irdai on a provision barring directors from holding board roles across insurers, banks and investment firms, citing governance and compliance concern
 "Insurers approach Irdai over common directorship rule in new Bill")
Cap or stagger distributor payouts: Life Insurance Council committee
RBI has flagged high expense structure, particularly acquisition costs of insurance companies, in its recent report
 "Cap or stagger distributor payouts: Life Insurance Council committee")
Misselling in insurance sector a concern, insurers must probe cause: Irdai
Misselling involves the sale of insurance products to consumers without proper disclosure of terms, conditions or suitability
 "Misselling in insurance sector a concern, insurers must probe cause: Irdai")
Misselling grievances against life insurers up 14% in FY25, says Irdai
Mis-selling complaints against life insurers rose over 14% in FY25 even as total grievances dipped marginally, prompting Irdai to flag concerns and seek corrective action
 "Misselling grievances against life insurers up 14% in FY25, says Irdai")
Misselling in insurance sector a significant concern: Irdai annual report
Irdai has flagged mis-selling as a major concern in India's insurance sector, asking insurers to conduct root-cause analysis, even as penetration remained unchanged at 3.7% in FY25
 "Misselling in insurance sector a significant concern: Irdai annual report")
Irdai imposes ₹1 cr penalty on Reliance General Insurance for norm breaches
Regulator said the insurer made payouts to entities and an individual agent in violation of norms, and asked it to place the order before its board and submit an action report
 "Irdai imposes ₹1 cr penalty on Reliance General Insurance for norm breaches")
Insurance intermediaries with high commissions may see payouts drop
Currently, 50 per cent of life insurance investment is allocated to government securities and the balance 50 per cent to other alternative investments
Irdai proposes allowing insurers to invest 20% in debt of public infra SPVs
Irdai noted that once infrastructure projects begin commercial operations, their cash flows become more predictable and regulated, significantly reducing funding risks
 "Irdai proposes allowing insurers to invest 20% in debt of public infra SPVs")
FDI for growth: Foreign participation in insurance should raise competition
Even as the sector opens up to greater competition and foreign investment, long-standing challenges continue to constrain its reach and credibility
Health insurance companies are quietly bringing back claims-based loading
The move is taking the form of a reduction in discount on next year's premium once a policyholder has made a claim
 "Health insurance companies are quietly bringing back claims-based loading")
Insurance Amendment Bill: High-commission intermediaries may see payout cut
The Insurance Amendment Bill empowers IRDAI to limit high commissions, reclaim unlawful gains, and strengthen oversight of intermediaries while opening new investment avenues for insurers
Trai mandates 1600 series for insurance service calls by Feb 15, 2026
Trai has asked insurance-sector entities regulated by IRDAI to move service and transactional calls to 1600-series numbers by February 15, 2026, to curb spam and fraud
 "Trai mandates 1600 series for insurance service calls by Feb 15, 2026")
Insurance Amendment Bill to ensure accessibility, affordability for all: FM
Nirmala Sitharaman further noted that India needs further capital infusion into the insurance sector
 "Insurance Amendment Bill to ensure accessibility, affordability for all: FM")
Sahaj Insurance gets Irdai licence, targets 100 mn rural policies in 1st yr
Sahaj Centres will offer a full suite of insurance products, with trained Sahaj Mitrs facilitating customer onboarding, support and claims assistance
 "Sahaj Insurance gets Irdai licence, targets 100 mn rural policies in 1st yr")
Irdai asks insurers for customer-centricity, stricter grievance compliance
Irdai has raised concerns over rising complaints, urging insurers to improve grievance redressal systems, standardise classification processes
Bima Sugam will make insurance inclusive, affordable, transparent: Experts
Leaders called Bima Sugam a tool for transparency, affordability and inclusion
 "Bima Sugam will make insurance inclusive, affordable, transparent: Experts")
GST rate cut is a growth opportunity for insurers: Irdai chief Ajay Seth
Making insurance products more affordable shows that the govt views the sector as essential as food, says Irdai chief Ajay Seth
 "GST rate cut is a growth opportunity for insurers: Irdai chief Ajay Seth")
Insurance industry seeks stability amid regulatory and tax turbulence
Regulatory shocks and withdrawal of a tax benefit slowed down growth, nudging firms to focus on affordability, efficiency and chasing more customers
 "Insurance industry seeks stability amid regulatory and tax turbulence")
Need to track, trace unclaimed insurance funds: Irdai member Iyer
IRDAI member Swaminathan Iyer stresses the need to track ₹1.9 trillion in unclaimed life insurance funds to build trust and boost penetration, vital for achieving 'insurance for all by 2047'
 "Need to track, trace unclaimed insurance funds: Irdai member Iyer")