Page 24 - Latest Updates on IRDAI
Irdai seeks to remove Rs 100 cr entry cap for new players in insurance biz
Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players
 "Irdai seeks to remove Rs 100 cr entry cap for new players in insurance biz")
Govt puts Oriental Insurance's solvency ratio at a dismal 0.69
The number was flagged in a recapitalisation advice, sent by the department of financial services in the finance ministry to the company this week.
 "Govt puts Oriental Insurance's solvency ratio at a dismal 0.69")
A premium on execution: Meet Debasish Panda, chairman of Irdai
At the DFS, Panda, 60, created a group of officials to monitor speedier claim settlements for deaths due to Covid-19
 "A premium on execution: Meet Debasish Panda, chairman of Irdai")
Debasish Panda takes charge as Irdai chairman for a three-year period
The position of Irdai chairman was vacant for a period of over nine months, ever since Subhash Chandra Khuntia demitted office in May 2021
 "Debasish Panda takes charge as Irdai chairman for a three-year period")
Former finance secretary Debasish Panda takes charge as Irdai chief
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
Hospital regulation, insurance penetration key tasks for new Irdai chief
Debasish Panda, former secretary, Department of Financial Services, to the top position of the Insurance Regulatory and Development Authority of India (Irdai) for three years
Govt appoints ex-financial services secretary Debasish Panda as IRDAI chief
The appointment of IRDAI chairman comes nearly 9 months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year
Top headlines: RBI setback for Paytm Payments Bank; IRDAI gets a new chief
Here are the top headlines on Friday
 "Top headlines: RBI setback for Paytm Payments Bank; IRDAI gets a new chief")
Term is not enough, buy personal accident insurance cover too: Expert
These policies prove especially useful in case of a disability
 "Term is not enough, buy personal accident insurance cover too: Expert")
Irdai wants insurers at par with banks on legal recourse for surety bonds
The finance minister in her Budget speech this year had said that surety bonds can be used as a substitute for bank guarantees for government procurement
 "Irdai wants insurers at par with banks on legal recourse for surety bonds")
Appoint two-three key people as life policy's nominees, say analysts
Buyers should look it up to see which insurers have been quicker in settling claims.
 "Appoint two-three key people as life policy's nominees, say analysts")
Keen to fill vacant posts at regulatory bodies at the earliest: Sitharaman
The Centre had invited applications for the Sebi chairperson's position in October 2021
 "Keen to fill vacant posts at regulatory bodies at the earliest: Sitharaman")
Govt to soon decide on giving additional charge of New India Assurance CMD
Banks Board Bureau, the headhunter for state-owned banks and financial institutions, is the advisory body formed by the government in 2016 for selection of candidates for top-level board appointments
 "Govt to soon decide on giving additional charge of New India Assurance CMD")
Govt delaying IRDAI chief appointment to rush LIC IPO: People's Commission
Says previous IRDAI chief retired in May 2021 and FinMin had been planning the IPO well before chief's post fell vacant, but did not name a successor even after 8 months
 "Govt delaying IRDAI chief appointment to rush LIC IPO: People's Commission")
Irdai reduces obligatory cession of premiums to GIC Re to 4% from FY23
Firm stands to lose about Rs 1,500 cr of premium, say experts
 "Irdai reduces obligatory cession of premiums to GIC Re to 4% from FY23")
Finance ministry invites applications for Irdai whole-time member post
The applicant should preferably have at least 25 years of experience in the area of insurance
 "Finance ministry invites applications for Irdai whole-time member post")
Protect yourself from these common mis-selling ploys insurance agents use
An IRDAI report shows that banks and broker channels received more mis-selling complaints than other channels
 "Protect yourself from these common mis-selling ploys insurance agents use")
Irdai asks insurers to review claims denied for antibody cocktail therapy
IRADI said it had come across instances where claims were denied/ there was a deduction in expenses incurred towards "antibody cocktail therapy", under the pretext that it's an experimental treatment
 "Irdai asks insurers to review claims denied for antibody cocktail therapy")
Irdai to set up two hubs on motor insurance and property insurance
The decision to set up these hubs was based on the recommendations of a working group on loss prevention and minimisation in the general insurance industry
 "Irdai to set up two hubs on motor insurance and property insurance")
Irdai seeks to revise formula for fixing insurers' obligation for Motor TP
The regulator has asked for comments from stakeholders, which they have to submit by January 25
 "Irdai seeks to revise formula for fixing insurers' obligation for Motor TP")