Page 2 - Latest Updates on IRDAI
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")
Irdai asks insurers, distributors to form fraud risk management framework
Irdai has asked insurers and reinsurers to implement anti-fraud frameworks and cybersecurity systems by April 2026, including data sharing and blacklisting via IIB
 "Irdai asks insurers, distributors to form fraud risk management framework")
Govt circular on Covid-19 cannot limit insurers' obligations, says Delhi HC
The court ordered full reimbursement for a policyholder after observing that the insurer's reliance on Covid-19 circular was unjustified according to Irdai's clarifications
 "Govt circular on Covid-19 cannot limit insurers' obligations, says Delhi HC")
Life insurers firms plan to approach regulator for relief after ITC removal
This comes after the industry passed the entire benefit of lower GST rates to policyholders to increase affordability
 "Life insurers firms plan to approach regulator for relief after ITC removal")
Irdai Chairman Ajay Seth launches Bima Sugam India Federation website
The website was launched in the presence of industry CEOs, senior IRDAI officials, and the Bima Sugam leadership team at the IRDAI headquarters in Hyderabad
 "Irdai Chairman Ajay Seth launches Bima Sugam India Federation website")
Insurance executives knock on FinMin door for input tax credit fix
The insurance chiefs in a letter submitted to the finance ministry officials on Friday sought for implementation of the new GST rates on a prospective basis, while allowing for ITC on renewal premiums
 "Insurance executives knock on FinMin door for input tax credit fix")
Best of BS Opinion: India's new-age economy gets a data reset
Today's Opinion pieces explore a new data framework, the Bima Sugam initiative, the real impact of the GST rate cuts, and what the startup ecosystem really needs
 "Best of BS Opinion: India's new-age economy gets a data reset")
Bima Sugam can deepen insurance penetration, but must be fair, transparent
Bima Sugam aims to transform insurance with a digital one-stop platform for buying, managing, and claiming policies, targeting "Insurance for All by 2047
Bima Sugam to roll out in phases for insurers, intermediaries, customers
Bima Sugam India Federation said the digital insurance marketplace will launch in phases this year with pilot insurer integrations and gradual customer onboarding
 "Bima Sugam to roll out in phases for insurers, intermediaries, customers")
New Irdai chairman Ajay Seth urges insurers to innovate using DPI framework
Ajay Seth, the new Irdai chairman, has urged insurers to experiment and innovate using digital public infrastructure rails to drive affordable and tailored insurance products