Page 5 - Irdai

Insurance industry can use derivatives to hedge equity exposures: Irdai

Regulator Irdai on Friday permitted insurers to use equity derivatives to hedge their portfolios, a move aimed at reducing risk in a volatile capital market. Insurance Development and Regulatory Authority of India (Irdai) has issued the 'Guidelines on Hedging through Equity Derivatives' following representations from insurers. "This move aims to facilitate insurers to hedge their existing equity exposures against volatility in equity market and ensure preservation of market value of equity investments and thereby reducing risks in equity portfolio," it said. Under the current regulatory framework, Irdai allows insurers to deal in Rupee Interest Rate Derivatives in the form of Forward Rate Agreements (FRAs), Interest Rate Swaps and Exchange Traded Interest Rate Futures (IRFs). Besides Fixed Income Derivatives, insurers are also permitted to deal in Credit Default Swaps (CDS) as protection buyers. "As there is an increasing trend in investments in equity market by insurers and owing

Pump Rs 300 crore into Bima Sugam by February-end: Irdai to insurers

After multiple delays, Phase-I of Amazon-like one-step digital platform may be launched in mid-2025

Insurance firms asked to contribute capital to Bima Sugam by month's end

Insurance regulator Irdai has told insurance firms which will be shareholders in Bima Sugam to inject initial capital of Rs 300 crore

Ex-SBI chairman Khara to head panel to implement amendment to insurance law

Highly placed sources in the insurance sector clarified that the panel will not propose any further amendments and that its mandate is to work on the proposed amendments

Irdai permits insurance premium payment through blocked amount on UPI

Both the Life and General Insurance Councils have to issue a standard declaration within a week of Irdai's circular to be included in the proposal for authorisation.

Bima Vahak's portal is ready for soft launch in April 2025, says Irdai

The regulator also said, "A compliant, simple, comprehensive, and customer-friendly model has been signed off by the top brass of the industry."

Irdai seeks IPO road map from 10 general and life insurance companies

To list on an Indian stock exchange, an insurance company must meet several performance parameters

Budget 2025: How 100% FDI will benefit the Indian insurance industry

The government seeks to fully unlock the potential of India's insurance industry, and has announced opening up of the sector to 100 per cent FDI

IRDAI Caps Premiums, RBI Takes Over, Economists Want Liquidity, RBI Warns Fraud & Unions Seek Exemption

IRDAI limits premium hikes for senior citizens RBI takes over Aviom India Housing Finance Economists advocate for more liquidity, not just rate cuts RBI Governor flags digital fraud concerns

Irdai caps senior citizens' health premium increase at 10% per annum

Steep rise in health insurance premium of senior citizens has been engaging the attention of Irdai and is a regulatory concern, Irdai said

Insurers push for more hedging tools from regulator to boost strategies

Currently, the regulatory norms do not permit insurers to use instruments like options to manage equity-market risks

Irdai expands scope of regulatory sandbox framework to foster innovation

Regulator Irdai has expanded the scope of regulatory sandbox framework to encourage proposals that foster innovation, improve efficiency and ease of doing business. The IRDAI (Regulatory Sandbox) Regulations, 2025 is now more of principle-based whereby operational aspects will be issued through a master circular, Insurance Regulatory and Development Authority of India (Irdai) said in a statement. "A notable addition is an enabling provision to file Inter-Regulatory Sandbox proposals, cutting across more than one financial sector," the regulator said. Regulatory sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain relaxations for the limited purpose of the testing. Further, regulations on maintenance of information by the regulated entities and sharing of information too have been consolidated by the regulator. The regulation mandates electronic record-keeping with robust

First phase of Bima Sugam project likely to be rolled out mid-2025

Initially proposed for Jan '23 launch, project missed many deadlines

Field agents at a crossroads: The BC channel is ripe for being reimagined

The business correspondent channel is sought to be reworked with more offerings being hawked on it

Uncertainty looms over launch of Irdai's ambitious Bima Sugam project

Industry players, who are also investors in the project, say it is unlikely the project will meet the announced launch date of April 2025, with few updates on its progress

Non-life insurers report dip in Dec premiums under Irdai's revised norms

Even in Q3, their premium growth slowed down to a meagre 1 per cent year-on-year

Health insurance claim denial: Check reasons against policy terms first

Health insurance claims are often denied due to exclusions in policy terms. Buyers frequently overlook the fine print or misinterpret clauses

FIU-IND, Irdai sign MoU for enhanced anti-money laundering efforts

Financial Intelligence Unit-India (FIU-IND) and the Insurance Regulatory and Development Authority of India (Irdai) on Monday signed a Memorandum of Understanding (MoU) for sharing of intelligence and information to check money laundering. The MoU was signed as part of continued coordinated efforts in effective implementation of requirements of the Prevention of Money Laundering Act and Rules, the Finance Ministry said in a statement. As per the agreement, FIU-IND and Irdai will cooperate in the areas of mutual interest, including sharing of relevant intelligence and information, available in their respective databases. Laying down procedure and manner in which the regulated entities/reporting entities report to FIU-IND under the PML Rules and conducting outreach and training for regulated entities as per the MoU. The MoU was signed by Vivek Aggarwal, Director, FIU-IND and Satyajit Tripathy, Member (distribution), Irdai. Assessment of Anti-Money Laundering/Combating Financing of .

Suspect a loved one had bought a policy? Search life insurers' websites

Unclaimed amounts often result from outdated customer details, making it difficult for insurers to trace policyholders or their nominees

Health insurers reject claims worth Rs 15,100 crore in FY24: Irdai

In terms of number of claims settled, 72 per cent were settled through third-party administrator and the balance 28 per cent were settled through in-house mechanism