Latest guidelines from IRDA threaten to further tighten the screws on web aggregators but they aren't rattled yet—after all, internet-savvy consumers are their insurance
New insurance regulator TS Vijayan gives the sector no reason to party, companies are up in arms, they say that the new guidelines for insurance products threaten to hurt an already bleeding industry.
CNBC-TV18 Mitra Joshi and Ashmit Kumar report that insurance industry expects the new IRDA chairman TS Vijayan to turn around the decline in business and relook some of the guidelines.
In fresh trouble for Life Insurance Corporation of India, the CBI has initiated a probe against its managing director TS Vijayan for allegedly misusing his official powers to favour corporate firms.
TS Vijayan's term as the chairman of life insurance giant LIC came to an end yesterday. However, Vijayan still has two more years to go before retirement and Finance Ministry sources say that he will continue as managing director at LIC for the next two years, reports CNBC-TV18's Aakansha Sethi.