Page 33 - Irdai

GI Council urges IRDAI for easier MTM rules to take on Covid-19 disruption

Wants regulator to allow companies to consider MTM losses as on Feb 29, instead of March 31 for the purpose of drawing up the P&L accounts

Irdai extends premium renewal period by 30 days as lockdown continues

Life Insurance Corporation has offered relaxation to policyholders on payment of premiums due on inforce policies up to April 15

Soon, pay less and get better health cover: IRDAI hints at new changes

The move is aimed at helping policyholders as the insured would pay less while getting better coverage

Coronavirus: Exporters seek duty reduction, logistics support from Centre

Meanwhile, Irdai was asked to review existing insurance products to ensure risk cover against loss because of abnormal delay in delivery of shipments

Provide Covid-19 cover in policies: Irdai tells health insurance companies

The costs of medical expenses will be settled in line with the terms and conditions of the policy contract

Delhi violence: Irdai asks insurers to expeditiously settle victims' claims

The communal violence in northeast Delhi, which was sparked by protests over the amended Citizenship Act, has left 42 dead, several injured and properties damaged

Coronavirus: Irdai asks insurers to design products covering treatment cost

The regulator has also made it clear that in existing products where the cost of hospitalisation is covered, insurers have to make sure that cases related to coronavirus are dealt with expeditiously.

Premium perks: Wearables, apps are set to transform health insurance

IRDAI has so far received 173 proposals, most of which incentivise wellness in the health insurance space through the use of apps and wearable devices

Life insurers to sell health policies? Standalone cos to lose, say experts

Non-life insurance companies will face a stiff competition from life insurers

A lot of unutilised space in insurance sector for foreign investment

There is headroom for foreign partners in both the life and non-life sectors within the current limits

Pay as you go: Irdai initiave aims to attract low-mileage car user

The idea behind such policies seems to be - lower the mileage, lower is the probability of an accident

Common portal for health insurance claim settlements on the cards

Regulator aims to usher time-bound settlement of claims and eliminate disparity in charges among different for some common procedures

Irdai concerned over rising hospital tariffs, plans to standardise charges

"We plan to introduce a system in which people will have the liberty to choose their TPAs," Irdai member said

New Irdai guidelines unlikely to impact insurance premium rates for now

General insurers would wait to see whether claims rise sharply after the removal of the three-month clause

PSU general insurers continue to lose market share, merger plan stuck

All, barring New India, have been losing market share for a while. However, United India has gained marginally this January

LIC's new business premium crosses Rs 1.5 trn mark, income soars 18%

The Corporation's total income grew by 17.79 per cent to Rs 2,97,017.28 crore as of September 2019 from Rs 2,52,149.60 crore a year ago, chairman MR Kumar said

PNB seeks IRDAI forbearance for paring stake in Canara HSBC OBC Life

State-owned Punjab National Bank is seeking IRDAI forbearance on cutting down stake in Canara HSBC OBC Life Insurance, which will come to the lender's fold after its merger with Oriental Bank of Commerce (OBC), sources said. OBC currently holds 23 per cent stake in Canara HSBC OBC Life Insurance. Besides, another public sector lender Canara Bank has 51 per cent stake and HSBC Insurance (Asia Pacific) Holdings Limited as foreign partner owns 26 per cent. As per the extant guidelines, one promoter cannot hold more than 10 per cent stake in two insurance ventures, sources said. After the merger of OBC, expected in April, PNB will automatically get 23 per cent stake in Canara HSBC OBC Life Insurance also. Already, PNB is a promoter of PNB Metlife Insurance with highest stake of 30 per cent. Founded in 2001, PNB Metlife's other shareholders include US-based Metlife with 26 per cent, Elpro (21 per cent) and M Pallonji & Company (18 per cent). The sources said PNB has requested the ...

Budget 2020: Road to bourses for LIC is not going to be an easy one

Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation

Irdai's Committee on micro insurance suggests ways to boost segment

Micro insurance is specifically intended for protection of low income people, with affordable products to help them cope with and recover from financial loss

Irdai pitches for daily premium payment policies to promote micro-insurance

Micro-insurance is specifically intended for the protection of low-income people