Page 29 - Irdai

General Insurers should be allowed in surety bond biz: Irdai working group

This is because surety bond insurance is yet to develop in India and risk exposure under this business is significant compared to other more mature lines of business

Robust legal framework key for development of surety bonds market: IRDAI

An IRDAI working group has made a case for a robust legislation and ecosystem keeping in view the best international practices for promoting development of the surety bonds markets in the country.

Covid-19: Switch to comprehensive insurance policy for broader coverage

Waiting period gains of Covid policy stay intact

Need to expand health insurance to include outpatient care: Irdai chairman

In light of the Coronavirus (Covid-19) pandemic, health insurance has seen a surge in demand from consumers

Saral Jeevan Beema for Bharat: Irdai introduces standard life product

All insurers to offer the product from January 1, 2020

Need to have more disease-specific health insurance products: Irdai

Irdai Chairman Subhash Khuntia has urged health insurance providers to develop disease-specific products which could help policy holders in preventing different ailments

Irdai allows renewal, migration and porting of Covid specific policies

The Indian insurance regulator has allowed renewal, migration and portability of Covid-19 specific standard health insurance policies -- Corona Kavach, Corona Rakshak and Group Corona Kavach Policy

Irdai allows renewal, migration and portability of Covid-specific products

Renewal subject to insurer's underwriting policy, must be done before expiry of existing policy contract

Don't impose 15-day waiting period for Corona Kavach renewal: IRDAI

As per the guidelines issued by the IRDAI, the short-term Corona Kavach policies are issued by insurance companies for three-and-a-half months, six-and-a-half months or nine-and-a-half-months

Regulators hand out more tools to customers for decoding financial products

Sebi's new risk-o-meter and Irdai's proposed colour coding of health insurance plans will enable buyers to make more informed choices

Irdai to start colour coding of individual health plans based on complexity

The regulator has sought comments from all stakeholders on the matter by October 15

Choosing a suitable health plan to become easier with standardised norms

Uniform policy wordings will reduce ambiguity and allow buyers to understand key policy features better

IRDAI group tables broad framework for insurance cover to drone industry

The panel noted that the drone ecosystem is in nascent stages in India and finding more usage/applications in various sectors at a slower pace

Do your research well before buying a life insurance plan for the long run

Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

LIC, GIC, New India Assurance systemically important insurers: IRDAI

The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, IRDAI said in a statement

Top headlines: Vodafone wins case against govt, Harley in talks with Hero

From Vodafone International winning arbitration case against govt to Election Commission announcing Bihar poll dates, Business Standard bring you top news of the evening

Covid-19: Irdai permits life, general insurers to conduct video-based KYC

The objective of the VIBP, Irdai said, is to leverage various electronic platforms to simplify KYC process and make it customer-friendly

Irdai to develop standardised products for bridging protection gap

Life Insurers must aim to achieve a 13th month persistency of 90% within a year, says Irdai chairman

Irdai panel recommends forming Rs 75,000 cr pandemic pool under PPP model

The group has recommended coverage for 40-50 million MSME workers initially