Page 24 - Irdai

Irdai to modify norms for remuneration of CEOs, directors of pvt insurers

Surety insurance pertains to a contract to perform the promise or discharge the liability of a third person in case of default

Covid LIVE: Over 4 mn children in 15-17 age group vaccinated on Day 1

37,84,212 children in 15-17 age group vaccinated till 7pm as on the first day of COVID19 vaccination for children, as per CoWIN portal

Irdai directs Go Digit to withdraw product offering life insurance benefits

The Insurance Regulatory and Development Authority of India (Irdai) also asked the insurer to wthdraw advertisements regarding the product from all media

Reliance General Insurance gets IRDAI approval to test 9 products

Reliance General Insurance Company will soon roll out nine sandbox products to cater to the fast transforming customer requirement in the insurance sector. The company has received sandbox approval for the nine products from the Insurance Regulatory and Development Authority of India (IRDAI) in one go in the 2nd cohort, the 4th largest private sector general insurer said. The announcement is in line with the company's long-term goal of re-innovating and redefining the insurance sector to cater to the fast-transforming customer expectations in the digital age, it said in a release. The company said three of these products are from the telematics segment. Rest of the offerings are from the company's innovative product line designed to address customers' current and future policy requirements. Reliance General Insurance Company is one of the most tech driven companies and it aims to introduce these pioneering product offerings to provide holistic insurance cover from a futuristic ...

MFIN to launch natural catastrophe insurance cover for micro borrowers

The MicroFinance Institutions' Network is planning to introduce this product with Cholamandalam MS General Insurance as insurer

Life insurers' new business premium spikes 42% at Rs 27,177 cr in Nov

Profitability a worry with excess reserves on balance sheet for Covid claims

New premium income of life insurers up 42% at Rs 27,177 cr in Nov: Irdai

The new premium income of life insurance companies jumped by nearly 42 per cent to Rs 27,177.26 crore in November this year, data from Irdai showed on Tuesday. All the 24 life insurance companies had written new business or the first year premium totalling Rs 19,159.30 crore in November 2020. The insurance behemoth LIC -- the only state-owned life insurer in the country -- witnessed over 32 per cent rise in the first-year business premium in November at Rs 15,967.51 crore, as against Rs 12,092.66 crore in the year-ago same period, as per the data shown by the Insurance Regulatory and Development Authority of India (Irdai). Rest of the 23 players belonging to the private sector registered a spike of 58.63 per cent in their collective first-year premium income at Rs 11,209.75 crore during the month, as against Rs 7,066.64 crore a year ago same month. On a cumulative basis, the new business premium income of all the insurers during the April-November period of FY'22 was up by 8.46 per

'Have health-care watchdog or let us regulate it,' says Irdai member

The insurance regulator is keeping an eye on hikes in premiums, said Alamelu T L, member (non-life), Irdai

Soon, regular yoga will get you a discount on your insurance premium

Irdai set to allow wellness programme along with life plans; policyholders participation voluntary

IRDAI needs young CEO, abolish licence permit raj: Experts

Insurance sector wherein licence permit raj is abolished and the sectoral regulator is headed by a dynamic young person to increase insurance penetration, said a senior industry official

IRDAI, Banks Board Bureau in the dock on promotions in insurance sector

All is not well in the government insurance sector with regard to elevation of officials, it seems.

No plans to bring standard products for cyber liability insurance: Irdai

Irdai has no plans to bring standard products for cyber liability insurance policy as of now, a senior Irdai member said on Thursday.

Covid insurance makes sense if you have a comprehensive policy: Experts

Especially if sum insured is small, at say Rs 5-7 lakh for the family

Amid rise in cybercrimes, a cyber risk insurance can cut your losses

But also buy a comprehensive antivirus software

Madras HC withdraws its order on bumper-to-bumper insurance cover

The judge hoped and trusted the lawmakers would look into this aspect and examine the need for suitable amendment in the Act relating to wide coverage of vehicles so as to protect the innocent victims

Irdai extends last date for sale of Covid plans till March 31, 2022

Earlier, in March this year, the regulator decided to extend the timeline for the sale and renewal of such policies till September, looking at the prevailing situation

IRDAI permits insurers to sell short-term Covid policies till Mar 2022

Regulator IRDAI on Monday allowed insurers to continue selling and renewing short-term Covid specific health insurance policies till March 2022.

Irdai issues draft rules for promoting and regulating surety insurance biz

A general insurer can start a surety business if it has 1.25x the solvency margin; but if solvency goes below the required level, insurer will stop underwriting new business

Drone use, satellite imagery for agriculture insurance may be a must

Govt, Irdai considering using artificial intelligence to control fraud claims, cut delays in settlement

Attractive though they are, scrutinise costs before you invest in Ulips

After the recent run up in equity markets, it would be prudent to opt for a mix of equity and debt funds