"There is a need for cost standardisation in the health insurance sector... at least among hospitals. If someone is having some procedure in a hospital, it should be comparable with another hospital in the same city," the chairman of the Insurance Regulatory and Development Authority of India (Irdai) said at Ficci's Annual Health Insurance conference here.
Insurance regulator Irdai today said an increase in the third-party motor premium is inevitable next financial year to take care of the health of the service providers.
Speaking to CNBC-TV18, TS Vijayan, Insurance Regulatory and Development Authority (IRDA) said that the body has asked HDFC Life and Max to rework on some aspects of the deal.
The Insurance Regulatory Development Authority of India may not want insurance companies to list themselves in stock exchanges after a push from the Finance Ministry.
IRDA chairman, TS Vijayan shares with CNBC-TV18 his views on concerns raised by insurance players on mandatory listing, IPO pipeline from insurance space, foreign inflows into the country and the regulatory changes that IRDA is gearing for.
TS Vijayan, Chairman of the IRDA on the sidelines of CII Insurance Summit said that changing the commission structure in existing products will be an uphill task.
The Narendra Modi-led government launched the 'Jan Dhan Yojana' in August this year with an aim to deepen the banking penetration, and the banks have so far responded by opening over 6 crore basic accounts of the targeted 7.5 crore
The decision was taken after it was observed that unauthorised and unqualified personnel were engaged in solicitation process at some of the insurance broking firms, IRDA Chairman T S Vijayan said here today.
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.