Page 21 - Irdai

Buy a health policy that covers treatment at home and pays for consumables

Go for cashless treatment where available, as the reimbursement route is more burdensome

Shriram Transport Finance gets shareholders' approval for merger with SCUF

Shriram Transport Finance, which is part of the Shriram Group, now awaits approval from Shriram City Union Finance shareholders and creditors and NCLT, CCI and Irdai

Irdai and NHA to develop National Health Claims Exchange to settle claims

Based on a presentation by R S Sharma, CEO of NHA, chairman of Irdai Debasish Panda, has proposed creation of a working group with representation from the industry

Online players, agents may have to disclose insurance commission

IRDAI is considering a proposal that seeks to have a single limit for expenses made by insurance companies

Irdai may extend testing period to 3 years under regulatory sandbox

Insurance Regulatory and Development Authority of India (Irdai) is mulling to extend testing of products under the regulatory sandbox mechanism to up to three years. The Irdai Chairman said all these initiatives will help in furthering the goal of insurance penetration and reaching out to more and more people. A sandbox is an environment used in the financial services sector, which provides testing ground for new business models, processes and applications that may not necessarily be covered fully by or are not fully compliant with existing regulations. "The insurtech ecosystem is raring to grow. At Irdai we have already developed something called the regulatory sandbox mechanism where the proof of a concept is actually being allowed to be tested on the ground. We are informed that the regulatory sandbox has some shortcomings," Debasish Panda, Chairperson, Irdai said during a talk session. As of now, the applicants under the regulatory sandbox mechanism can apply through ...

Your life insurer may soon be able to offer a health insurance policy too

The move is likely to reduce premiums of policies and boost access to affordable health cover

Top Headlines: COAI on captive pvt networks, fintechs see surge in loans

The IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity

Irdai mulls linking insurance frauds with individuals' credit score

Believed to be a good deterrent as low score can deprive access to services

In the works at IRDAI: Making Indian insurance firms less risk-averse

The regulator hints at relaxing the FDI cap still further but it is unclear yet whether doing so would spread insurance to the bottom of the pyramid

Irdai eases solvency margin requirement for insurers underwriting crop biz

It is estimated that the Insurance Regulatory and Development Authority of India (Irdai)'s move to ease solvency margin will unlock nearly Rs 1400 crore.

Irdai working group recommends relaxing investment norms for insurers

The panel has suggested having a single limit of expenses over and above the monitoring of solvency and enterprise level expense limit

Irdai trims solvency margin for crop insurers; to unlock Rs 1,400 cr funds

Irdai expects that the effect of the relaxation will be positive on the industry as it will free up the capital, which can be utilised for underwriting more business

Go Digit promoters Watsa, Goyal seek regulatory nod for reinsurance biz

Currently, India has one domestic reinsurance company, the state-owned General Insurance Corporation (GIC Re)

Now, life insurers can introduce products without Irdai's prior approval

Currently, all life insurance products and riders require prior approval of the insurance regulator before launch

Irdai eases capital requirement for insurers to offer PMJJBY schemes

PMJJBY provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years

Irdai eases PMJJBY capital requirement to encourage insurer participation

Insurance sector regulator Irdai on Friday relaxed capital requirement norms significantly for insurers to encourage their participation in the government's flagship programme PMJJBY

More flexibility for insurers as Irdai eases health product approvals

Move will help firms adapt to changing customer preferences

Irdai extends 'Use & File' procedure to health and general insurance plans

Currently, insurance companies have to obtain prior approval from the insurance regulator to launch new products

IRDAI eases approval norms for health, general insurance products

Irdai has tweaked 'Use and File' procedure for all health insurance products and almost all the general insurance products in line with the reform agenda taken up towards having a fully insured India

Piramal Group not eligible to acquire Reliance Capital, says Irdai

Group has promoter stake in Pramerica Life Insurance