Don`t deny claims of HIV infected policy holders: IRDA

Insurance sector regulator IRDA has asked life insurers not to reject any claim of those HIV infected persons who were HIV negative at the time of commencement of policy.

Health insurance policy portability from July 1

In a big relief to dissatisfied health insurance policy holders, sectoral regulator Irda on Thursday allowed them portability -- shifting policies from one insurer to another on same terms -- from July 1.

`Insurers cannot refuse cashless cover to patients`

Medical policy holders undergoing
treatment can continue to enjoy cashless benefit even if the
hospital where they are admitted is delisted by insurers from
cashless cover.

Help provide cashless facilities: Delhi HC to IRDA

Delhi HC has asked IRDA to make some arrangement to provide cashless facilities to policyholders in the wake of the dispute between insurance companies and city hospitals.

Draft norms on health insurance policies soon: IRDA

Insurance regulator IRDA today
said that it will soon come out with draft norms that define
terms like critical illness and hospitalisation cost, among
others, a move that will reduce the scope for disputes.

ULIP policies must come with life cover: IRDA

Insurance regulator IRDA, locked in a turf war with capital market watchdog SEBI over regulation of unit-linked policies, has reemphasised that insurers should offer assured life insurance cover with ULIPs

IRDA asks insurers to disclose ULIP commission

Insurance regulator IRDA has asked life insurers to disclose the commission paid to agents for unit-linked products amid a debate over huge pay-outs given to them vis-à-vis mutual funds.

SEBI order on ULIP on hold; both regulators to go to court

SEBI & IRDA have agreed to maintain status quo that existed before market regulator`s ban on 14 ULIPs.

`Insurance firms can move court against ban`

IRDA said 14 private insurance companies banned from issuing ULIPs can move court against the SEBI ban.

Life policies could soon become paperless

Life insurance policy holders may not be required to keep paper records of their policies once the plan for digitalisation of the sector that is being worked on by the Life Insurance Council is approved by the regulator IRDA.

Mumbai terror attacks may cost insurers Rs 500 crore

Insurance claims arising out of the Mumbai terror attacks in 2008 are estimated to wipe out about Rs 500 crore from the corpus set up by general insurers to fund such losses.

IPO guidelines within 15 days: IRDA

IRDA will come with initial public offer guidelines for the insurance sector within a fortnight to allow companies to raise funds from the capital market.

Insurance firms can offer annuity products without life cover: IRDA

Insurance regulator, IRDA today said
life insurance companies offering annuity products without
life cover is well within the regulation and doing so firms do
not violate norms.

IRDA allows companies to offer life-cum-health insurance cover

Insurance regulator IRDA on Wednesday allowed insurance companies to offer `Health plus Life Combi Product, a policy that would provide life cover along with health insurance to subscribers.

IRDA mulls Rs 1.5cr cap on CEO annual salary

Insurance regulator IRDA is mulling to put a cap of Rs 1.5 crore on the annnual salary of Chief Executive Chief Executive, which could be paid from the policyholders` fund.

IRDA mulls allowing life insurers to invest in derivatives

Insurance regulator IRDA is
considering allowing life insurers to invest part of policy
holders` money in equity derivatives, a move that would allow
these firms to hedge the risks emanating from cash markets.

IRDA asks life insurers for details on health policies

Insurance regulator IRDA on Friday
asked all life insurers to give detailed information of their
health insurance policies in electronic form on half yearly
basis from next fiscal.

IRDA issues norms to check terror funding

Insurance regulator IRDA has asked insurance companies to cease the policies of persons whose identity matches the profile of those listed in the UN list of terrorists or organisations involved in terror funding.

Insurance Ind records 11.35% growth in premium income in H1

The insurance industry overall has registered a growth of 11.35 percent in premium collection at Rs 55,866.54 crore in the first six months of this fiscal as compared to Rs 50,171.09 crore in the year-ago period.

IRDA constitutes Insurance Information Bureau

Insurance regulator IRDA on Friday constituted an Insurance Information Bureau (IIB) to provide reliable data on the sector to researchers and policy makers.