Page 2 - Latest Updates on IRDAI
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
 "Insurance Amendment Bill: High-commission intermediaries may see payout cut")
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
 "Irdai asks insurers for customer-centricity, stricter grievance compliance")
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")
GST cut lifts life, retail health insurance growth: Irdai member Sood
Deepak Sood says zero GST on life and health insurance has sparked strong growth, with demand set to accelerate in H2FY26 as the industry pushes for deeper penetration and better distribution
 "GST cut lifts life, retail health insurance growth: Irdai member Sood")
Partial hospital bill payout: Boost policy cover to secure full claims
In particular, avoid room rent caps that lead to proportionate deduction
 "Partial hospital bill payout: Boost policy cover to secure full claims")
Irdai monitoring gaps in health insurance claim settlements: Chairman Seth
Ajay Seth says claim payouts often fall short of expectations; stresses prompt, transparent settlement to build trust and achieve 'Insurance for All' by 2047
 "Irdai monitoring gaps in health insurance claim settlements: Chairman Seth")
Govt seeks applications for Irdai WTMs for actuary, distribution posts
The Ministry of Finance has opened applications for two senior Irdai positions - Whole Time Members (Actuary and Distribution) - as the current incumbents' terms conclude in January and February 2026
 "Govt seeks applications for Irdai WTMs for actuary, distribution posts")
As insurance regulator, I have an open mind: Irdai Chairman Ajay Seth
IRDAI chief outlines priorities on GST reforms, capital efficiency, Bima Sugam rollout, and risk-based supervision, promising orderly growth and stronger policyholder protection
 "As insurance regulator, I have an open mind: Irdai Chairman Ajay Seth")
Insurance sector is currently at unstable equilibrium: Irdai chief
Regulators set the agenda as insurance, pensions, digital currency, cyber risk, and crypto policy took centre stage on the penultimate day of the leading summit
 "Insurance sector is currently at unstable equilibrium: Irdai chief")
BFSI Summit: General insurers call for norms to navigate climate disasters
At the BFSI Insight Summit 2025, insurance leaders urged joint action on climate, cyber, and EV risks - calling for innovation, tech collaboration, and universal insurance coverage
 "BFSI Summit: General insurers call for norms to navigate climate disasters")
BS BFSI Summit: Bima Sugam to transform insurance sector, says industry
Bima Sugam will unify India's insurance market, boost rural reach, and make policies more transparent and affordable, said experts
 "BS BFSI Summit: Bima Sugam to transform insurance sector, says industry")
GST cut puts insurance on par with food in fiscal policy, says Irdai chief
Irdai chief Ajay Seth urged insurers to target the bottom of the pyramid, where most of the growth potential lies, and to shift to a moderate-cost model delivering good quality service
 "GST cut puts insurance on par with food in fiscal policy, says Irdai chief")
BS BFSI Summit: Tuhin Kanta Pandey to C S Setty, here are the key speakers
Tuhin Kanta Pandey took charge as the chairman of Sebi in March 2025 and has since then driven reforms to improve ease of doing business and reducing the compliance burden on market intermediaries
 "BS BFSI Summit: Tuhin Kanta Pandey to C S Setty, here are the key speakers")
Insurance regulator seeks more measures to check fraud, improve security
Insurers must upgrade systems and board-approved processes by April 2026, says Irdai
 "Insurance regulator seeks more measures to check fraud, improve security")