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  • IRDAI approves Mitsui Sumitomo's Max Life stake swap with MFSL Nov 28, 2020 08:51 PM IST

    IRDAI approves Mitsui Sumitomo's Max Life stake swap with MFSL

    New Delhi, Nov 28 Max Financial Services Ltd (MFSL) on Saturday said IRDAI has approved the proposed transfer of 39.47 crore shares constituting 20...

  • ICICI Lombard gets IRDAI's 'in-principle approval' to acquire Bharti AXA General Insurance Nov 27, 2020 08:57 PM IST

    ICICI Lombard gets IRDAI's 'in-principle approval' to acquire Bharti AXA General Insurance

    BSE Limited, NSE of India Limited and the Competition Commission of India have already approved the proposed acquisition of General Insurance business of Bharti AXA General Insurance by ICICI Lombard General Insurance.

  • IRDAI draft: Standardised insurance covers for Dengue, Malaria and Chikungunya Nov 18, 2020 09:20 AM IST

    IRDAI draft: Standardised insurance covers for Dengue, Malaria and Chikungunya

    Insurance plans for vector-borne diseases such as Dengue, Malaria and Chikungunya exist even now. But IRDAI has proposed a standard health cover for such diseases

  • Explained: How life insurance policies invest your premiums Oct 29, 2020 10:46 AM IST

    Explained: How life insurance policies invest your premiums

    Life insurance policies have to adhere to IRDAI-mandated norms on deploying the collected premiums. Insurance policies cannot take credit risk

  • Need to have more disease-specific health insurance products: IRDAI Oct 15, 2020 03:04 PM IST

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

    The chairman said the insurance sector, for too long, has concentrated on tertiary care or hospitalisation and now there was a need to focus more on primary and secondary care, the outpatient care and more on to have preventive care.

  • Exclusive | LIC IPO may not happen before second quarter of FY22 Oct 08, 2020 03:15 PM IST

    Exclusive | LIC IPO may not happen before second quarter of FY22

    The government is yet to appoint book running lead managers and legal advisors. An embedded value has to be decided, the insurer has to pare its stake in a number of other listed companies and has to tweak its balance sheets to comply with regulations, and the LIC Act has to be amended in Parliament.

  • Green, orange or red: These colours will reflect if a health insurance plan is simple or complex Oct 05, 2020 05:16 PM IST

    Green, orange or red: These colours will reflect if a health insurance plan is simple or complex

    Green will mean a simple product, orange a moderate product, while red will be a complex category health insurance product

  • Irdai permits insurers to conduct video-based KYC Sep 21, 2020 09:16 PM IST

    Irdai permits insurers to conduct video-based KYC

    Insurers may undertake live VBIP by developing an application, which will facilitate the KYC process either online or face-to-face in-person verification through video, the regulator said.

  • How insurers' digital push is set to make policy issuance simpler for customers Sep 16, 2020 09:02 AM IST

    How insurers' digital push is set to make policy issuance simpler for customers

    Processes such as the e-KYC have allowed insurance companies to significantly reduce their operating time

  • IRDAI allows general insurers to issue policy documents in electronic format Sep 11, 2020 11:33 AM IST

    IRDAI allows general insurers to issue policy documents in electronic format

    IRDAI has also said that policy proposal forms do not need wet signatures.

  • ‘Pollution under control’ certificate not needed for motor claim settlement: IRDAI Aug 27, 2020 01:56 PM IST

    ‘Pollution under control’ certificate not needed for motor claim settlement: IRDAI

    The insurance regulator issued a clarification after reports of claim denial due to lack of PUC surfaced

  • IRDAI mulls tighter licence rules for companies: Report Aug 26, 2020 01:11 PM IST

    IRDAI mulls tighter licence rules for companies: Report

    Insurance regulator IRDAI might review norms relating to minimum paid-up equity capital, reserves, sum at risk, solvency.

  • IRDAI group recommends setting up loss prevention entity for non-life insurers Aug 18, 2020 09:46 PM IST

    IRDAI group recommends setting up loss prevention entity for non-life insurers

    The proposed entity would be funded by the insurance regulator and the general insurance companies

  • More tech needed to enable insurance purchase in a single sitting Aug 18, 2020 10:39 AM IST

    More tech needed to enable insurance purchase in a single sitting

    Complete digitization means that the customer fills the form online, makes payment and receives a policy copy without having to exit the browser

  • IRDAI permits life insurers to issue policies electronically Aug 04, 2020 10:40 PM IST

    IRDAI permits life insurers to issue policies electronically

    This exemption will be valid for all policies issued during 2020-21.

  • Opting out of a floater health policy for an individual cover? Know the nitty-gritty Jul 30, 2020 09:48 AM IST

    Opting out of a floater health policy for an individual cover? Know the nitty-gritty

    You can switch to a personal, individual policy without having to serve the waiting period for pre-existing diseases all over again

  • IRDAI allows insurers to offer 'Corona Kavach' as group insurance policy Jul 21, 2020 09:57 PM IST

    IRDAI allows insurers to offer 'Corona Kavach' as group insurance policy

    The standard group policy is expected to be useful to various private and public establishments for covering the COVID-19 related medical needs of their employees, the Insurance Regulatory and Development Authority of India (Irdai) said in a circular.

  • Insurers launch Corona Kavach, Rakshak policies, price it lower than regular health covers Jul 11, 2020 12:54 PM IST

    Insurers launch Corona Kavach, Rakshak policies, price it lower than regular health covers

    Premiums start at close to Rs 600 for Corona Kavach covers of Rs 5 lakh and Rs 500 for Rs 2.5-lakh Corona Rakshak policies

  • IRDAI allows insurers to offer higher sums insured through Aarogya Sanjeevani Jul 07, 2020 08:46 PM IST

    IRDAI allows insurers to offer higher sums insured through Aarogya Sanjeevani

    The lower sum insured limit reduced to Rs 50,000

  • BOCI writes to IRDAI for extension of vehicle insurance validity Jul 06, 2020 04:46 PM IST

    BOCI writes to IRDAI for extension of vehicle insurance validity

    BOCI operators run 17 lakh buses and account for 30 crore passenger trips. Its members also operate 1.1 million cars which are used for intercity travel.

  • IRDAI allows insurers to offer short-term health policies against COVID-19 Jun 23, 2020 07:44 PM IST

    IRDAI allows insurers to offer short-term health policies against COVID-19

    IRDAI asked the insurers to devise inclusive short-term health insurance products "where waiting periods are part of the product, such waiting period shall not exceed 15 days".

  • IRDAI proposes two ‘new and improved’ standard COVID health policies Jun 23, 2020 03:06 PM IST

    IRDAI proposes two ‘new and improved’ standard COVID health policies

    The new indemnity policy will clearly cover PPE and other consumable costs, which is in favour of customers.

  • Explained | Health insurance claims: IRDAI guidelines Jun 16, 2020 07:52 PM IST

    Explained | Health insurance claims: IRDAI guidelines

    In this edition of the Explained series, find out the insurance admissible limits and claims settlement procedure.

  • IRDAI revises  COVID-19 product draft, prescribes a fixed benefit cover Jun 12, 2020 10:10 AM IST

    IRDAI revises  COVID-19 product draft, prescribes a fixed benefit cover

    The product will be available from June 30 if the proposal is finalised in its current form

  • Cyclone Amphan: IRDAI asks life insurers to expeditiously settle claims May 22, 2020 08:32 PM IST

    Cyclone Amphan: IRDAI asks life insurers to expeditiously settle claims

    In a circular, the Insurance Regulatory and Development Authority of India (Irdai) said there are reports of loss of human lives and loss of belongings in the cyclone affected districts, primarily in the states of West Bengal and Odisha.

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