Page 20 - Irdai

Regulator seeks to make insurers have clear policy for agents' commission

Boards will make written norms that will be reviewed annually, says draft IRDAI proposal

Irdai eases firm registration process from 8 to 2 months: Chairman

"Thereby, we are moving from a rule-based regulatory regime to a principle-based one," Panda said

Manipal Cigna seeks 30% growth in health insurance: CEO Prasun Sikdar

High claims for Covid-19 a challenge for the industry, says the senior executive

Can the new Irdai chief bring in much-awaited reforms in insurance sector?

For Irdai Chairman Debasis Panda, LIC's fortune and reforms in health insurance sector will be the two most difficult tests to pass

Govt hardens norms on Irdai, public insurer top brass' post-retirement jobs

This comes after the Centre had reportedly received complaints against two past Irdai chairpersons, Subhash Chandra Khuntia and T S Vijayan

New business premiums of life insurance companies jump 91% in July

This is thanks to strong premium growth by LIC

Irdai proposes limits on expenses of management of life insurers

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

Irdai proposes single limit on expenses for non-life insurance firms

According to the exposure draft released by the regulator, non-life insurers cannot spend an amount exceeding 30 per cent of the gross premium written as company expense during a financial year

Irdai tightens anti-money laundering rules for insurance companies

The guidelines come as the regulator is preparing the ground for a larger exposure of foreign companies and a wider range of domestic financial sector companies to enter the sector

Irdai may offer more flexibility to insurers in corporate agency tie-ups

Insurance regulator's board proposes limit on expenses of management for general insurers

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5 per cent to 4 per cent for FY23. The impact of the reduction on GIC Re would be around Rs 2,000 crore

Irdai carrying out series of reforms for ease of doing business: Minister

Irdai has also developed a mechanism to process applications filed for registration of new insurers and for grant of certificate of registration to commence the insurance business in India

Irdai gives indicative premium growth targets to non-life insurers

The regulator's aim is to increase non-life penetration to 2.5% from the current 1%

Irdai empowers insurers to empanel hospitals for cashless facility

Regulator asks companies to publish board-approved empanelment criteria on their websites periodically; insurers to focus on quality of healthcare services of hospitals being empanelled

ADIA eyeing minority stake in Aditya Birla's health insurance arm: Report

The discussions for ADIA taking a minority stake in Aditya Birla Health Insurance Co Ltd are ongoing and expected to gain pace in the coming weeks

Irdai wants life insurance firms to eye 50% premium growth in 5 years

Irdai extended the "use & file" procedure to most life insurance products, barring individual savings, individual pensions, and annuity products

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Irdai says no decision on mandatory disclosure of insurance commissions

Irdai said it regulator intends to hold discussions on the matter before a decision

Regulator allows insurance firms 'use & file' procedure for agri products

Companies can introduce a product in the market and then file with the Insurance Regulatory and Development Authority of India (Irdai) for approval

Life firms ask regulator to allow risk-based solvency regime for ULIPs

Life insurance companies will raise their solvency margin and free up capital that can be used for other purposes