Page 33 - Latest Updates on IRDAI
Insurers can take action against hospitals denying cashless service: Irdai
An insurance company can take action against a hospital for demanding advance from a policy holder who is supposed to get cashless service
 "Insurers can take action against hospitals denying cashless service: Irdai")
IRDAI allows life insurers to get consent of policyholders electronically
This facility, to be allowed on an experimental basis with immediate effect till December 31, 2020, will remain limited to pure risk products
 "IRDAI allows life insurers to get consent of policyholders electronically")
IRDAI allows life insurers to issue policies electronically due to Covid-19
The regulator further said there will be a mandatory 30-day free look period for all such electronic policy documents
 "IRDAI allows life insurers to issue policies electronically due to Covid-19")
Who is the real boss of India's financial markets?
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously the Sebi and the Reserve Bank of India
What you need to know about Arogya Sanjeevani health insurance policy
Launched by Irdai, the plan's main objective is to make insurance more accessible, affordable and less confusing for policy buyers
Irdai allows insurers to offer Arogya Sanjeevani as group insurance policy
Arogya Sanjeevani Policy, whether in individual or group form, will also cover treatment of Covid-19 disease
 "Irdai allows insurers to offer Arogya Sanjeevani as group insurance policy")
Market Ahead, July 24: All you need to know before the opening bell
Today, a total of 71 companies including ITC, Asian Paints, and Ambuja Cements are scheduled to announce their quarterly results
 "Market Ahead, July 24: All you need to know before the opening bell")
Irdai asks Axis Bank, Max Financial to make changes in deal structure
Irdai has asked them to factor in some alternate mechanisms subject to regulatory approvals.
 "Irdai asks Axis Bank, Max Financial to make changes in deal structure")
IRDAI approval must for sale, pledge of over 5% equity in insurance company
IRDAI said any transfer of shares beyond the stipulated threshold limits without the prior approval of the authority will attract appropriate regulatory and legal action
 "IRDAI approval must for sale, pledge of over 5% equity in insurance company")
IRDAI allows insurers to sell Corona Kavach policy as group product
Each insurer can price the product according to its risk assessment, health portfolio and its claim experience.
 "IRDAI allows insurers to sell Corona Kavach policy as group product")
Corona Kavach getting good response: Details about the insurance policy
Amid the surge in Covid-19 cases in the country, Corona Kavach has evoked good response within days of its launch by almost all insurers
 "Corona Kavach getting good response: Details about the insurance policy")
Corona Kavach health insurance policy evokes good response: Insurers
Corona Kavach, which was launched on July 10 and is being offered by both general and health insurers, is a standard health insurance policy created to meet the treatment requirements for coronavirus
It's time for a retrenchment cover
All companies should be encouraged to have an insurance policy that improves the quality of conversation between the management and the employee during layoffs
Irdai asks insurers to recognise make-shift hospitals for Covid claims
Also, if a regular hospital has set up a temporary facility for patients, it will be regarded as an extension of the hospital and cashless facility will be made available
 "Irdai asks insurers to recognise make-shift hospitals for Covid claims")
How bailout for three state-run insurers highlights Irdai's incompetence
The latest bailout also raises concerns about the need for a through relook at the quality of the managerial talent in these companies
 "How bailout for three state-run insurers highlights Irdai's incompetence")
Ensure cashless facility for Covid-19 treatment: Irdai to insurers
It has asked insurers to take appropriate action against hospitals in case they deny cashless facility to policyholders and deviate from the agreed terms of the service level agreements.
 "Ensure cashless facility for Covid-19 treatment: Irdai to insurers")
Insurers start offering standard Covid product as mandated by Irdai
As of now, the insurers have to offer the indeminity-based standard Covid cover (Corona Kavach), but later they may also offer the benefit-based product (Corona Rakshak), insurers said
Irdai sets up panel to study feasibility of forming a 'pandemic risk pool'
The group has to submit its report on the subject in the next eight weeks
Irdai allows insurers more flexibility on Arogya Sanjeevani sum insured
Insurers can offer sum insured of less than Rs 1 lakh, while the maximum can exceed Rs 5 lakh. Insurers could earlier offer policies only in the Ra 1-5 lakh sum insured range
Irdai examining surety bonds for road contracts amid Covid-19 crisis
Now, the Insurance Regulatory and Development Authority of India (Irdai) has set up a nine-member working group to study the legal framework and suitability of the Indian insurance industry
 "Irdai examining surety bonds for road contracts amid Covid-19 crisis")