Page 27 - Irdai

General insurers' underwriting losses up 6.3% in FY20: Irdai Annual Report

While state-owned insurers' losses rose 1.12% to Rs 18,741 cr, those of private insurers were up over 26% to Rs 3,647 cr

Unable to get health cover? Buy a standard vector-borne disease insurance

Standard policy will make price comparison across insurers easy

Irdai Working Group bats for introduction of index-linked insurance plans

With investment markets turning volatile, customers are preferring guaranteed products. This, in turn, has increased the balance sheet risk for insurers

Irdai panel suggests introduction of index-linked insurance products

An Irdai panel has made a case for the introduction of index-linked insurance products (ILIP) an apt alternative to the current conventional guaranteed products and ULIPs

Exploring indexing annuity rates to inflation or G-secs: Irdai Chairman

Annuity products may switch to floating rates from fixed, which generally give lower returns to customers

Policybazaar.com sells 400,000 health policies in April-December 2020

Covid-19 pandemic and increased awareness about health plans, along with factors such as flexible payment options and availability of higher sums insured created a surge in demand

Saral Pension promises higher liquidity than existing plans: Details here

Surrender, loan options will encourage those wary of illiquid annuities

Irdai introduces 'Saral Pension', a standard individual annuity product

It is an immediate-anuuity product comes that all life insurers must start offering by April 1

Insurers asked to adopt one aspirational district each, says IRDAI Chairman

IRDAI chairman is concerned over low level of insurance penetration in the country

Auto dealers can work as sales channel for motor insurance: Irdai panel

They may work as insurance intermediaries in much the same way as an insurance broker, but must solicit motor insurance business only

Irdai working group proposes 'traffic violation premium' in motor insurance

It will float over own damage and third party sections and can be attached to any section of motor insurance cover bought

Forge agreement on coronavirus treatment rates: Irdai to insurers

However, the insurers should make efforts to have agreement with health providers on rates for treatment of Covid-19 similar to other diseases

IRDAI sets up panel to examine availability of health insurance products

Irdai set up a panel of experts to examine the availability of health insurance products in the country considering the need of the Indian society and recommend suitable products and processes.

Irdai for extending validity of sandbox regulations by another 2 years

Due to Covid-19, most could not be completed within six months and they have been granted six months' extension

IRDAI proposes extension of regulatory sandbox guidelines by 2 years

Insurance regulator IRDAI on Tuesday proposed to extend the validity of regulatory sandbox guidelines by two years as the proposals received under it require more time for completion.

Irdai wants fuel pumps and cooking gas agencies to sell insurance

The regulator also wants all life insurance companies to have a 13th month persistency of 90 per cent and 61st month persistency of not below 65 per cent

Standard travel policy to ease purchase of product: Who should go for it?

Those travelling to developed countries or needing elaborate coverage should consider existing plans

PFRDA raises cap on fund management charges as it floats RFPs

There would now be four slabs, each attracting charges based on the quantum of assets under management

Irdai set to introduce standard products for fire, allied peril risks

General insurers that offer fire and allied perils policies have to mandatorily introduce the same from April 1, 2021, replacing the Standard Fire and Special Perils (SFSP) policy

Insurance regulator keeps obligatory cession at 5% to GIC Re in FY21

The entire obligatory cession has to be reinsured with India's largest reinsurer, General Insurance Corporation of India (GIC Re)