Page 38 - Irdai

Irdai directs LIC to reduce stakes in L&T, ITC to 15% by Dec 2018

The general insurance business grew 31% last year and life insurance 25%

FinMin official Ravi Mittal appointed part-time member on Irdai board

Former finance secretary Sushma Nath is another part-time member on the Irdai board

Irdai tells insurers to put unclaimed money in special fund for elderly

Latest direction is in continuation of Irdai's previous orders regarding unclaimed amounts

Insurers should mention exclusions in policies: Irdai

Policy holders should be made fully aware of the benefits of the products being sold to them

Settle health policy claim in 30 days or pay interest: Irdai warns insurers

In case of delay, Insurers have to pay interest at bank rate plus 2% on claim amount

Irdai directs insurers to comply with Fema rules on options

Insurers need to comply with norms related to pricing, pertaining to put and call options in Fema

Speed up claim settlement process: Irdai to insurance firms

To comply with its previous order on how to deal with delayed intimation of claims

Irdai defers IndAS execution by 2 yrs

Corporate Affairs ministry laid down the road map for implementation of IndAS for insurance sector

Irdai to alter insurance policy covers for shops and hotels

A working group has been set up to examine the current insurance product structure

Irdai issues new outsourcing guidelines for insurers

Insurers are expected to do all actuarial functions and enterprise-wide risk management in house

Your motor insurance set to get cheaper as Irdai reduces third-party rates

Premium rates for the current financial year are higher than those of the previous year

Irdai unveils online market place for selling policies by insurers

Regulator said companies may offer discounts to customers if their policies are sold online

Irdai asks insurers to appoint data security officer by April 30

The guidelines entail data, applications, operating systems and network layers

Truck owners to meet IRDAI in Hyderabad on Monday

There will be no new bookings for taxies and maxi cabs from Monday onwards

Irdai to ask for segmental reporting of balancesheet

The insurance regulator is considering asking insurance companies for segmental reporting of balanceheets. This will show the loss and profit, expenses, etc for each segment separately. Especially for segments like group health, where insurance companies are facing losses. Speaking to reporters on the sidelines of a seminar organised by the Insurance Brokers Association of India, T S Vijayan, Chairman, Insurance Regulatory and Development Authority of India said, "Many insurance companies chase top line and group insurance products is one segment that immediately adds to the topline. But in such cases, the companies don't show profit and this is a cause of concern. Once companies start segmental reporting of balancesheet, it will be evident which particular segment has losses. The balancesheet will not be merged,'' he said. Premiums should ideally cover expense and claims. The regulator's concern is that current premiums in group health segment are not justified. Segmented ...

Irdai proposes up to 50% hike in motor insurance premium from April 1

No proposal to increase the third party motor insurance premium for small cars

Irdai to form actuary panels for life, general insurers

Tenure fixed for each panel is three years, beginning from April this year

Irdai wants insurers to have 'clear policy' as investors

Insurers have to give their comments by February

Irdai's protection to a few reinsurers riles industry

Implements the controversial guideline allowing first right of refusal to select players

IRDAI allows insurers to invest in Basel III bonds

Insurers cannot invest in AT1 bonds of their promoter group bank or where the bank is their corporate agent