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'Insurers' losses to remain high despite premium hike'

Last Updated: Friday, April 11, 2014, 20:27

The 10-15 percent average hike in third-party motor premium by the regulator is not sufficient to cover the losses and therefore the claim ratio will stay high, say industry officials.

Are there guidelines for TPA to recommend claims, HC asks IRDA

Last Updated: Friday, March 21, 2014, 20:29

The Bombay High Court on Friday asked Insurance Regulatory and Development Authority (IRDA) to check whether the insurance companies had issued guidelines to third party administrators (TPA) on how to recommend claims amounts for mediclaim and health insurance policies.

New India Assurance awaiting "final" decision from IRDA

Last Updated: Friday, March 14, 2014, 18:29

Public insurer New India Assurance is awaiting a "final decision" from the Insurance Regulator Development Authority (Irda) on third-party motor insurance segment to curb mounting losses from the segment.

ICICI Lombard under IRDA scanner for alleged irregularities

Last Updated: Friday, March 14, 2014, 17:01

The IRDA is carrying out a "focused inspection" with respect to these schemes, said the letter.

SBI Life to appeal against IRDA order of Rs 275-cr refund

Last Updated: Wednesday, March 12, 2014, 23:25

Private sector life insurer SBI Life Insurance will appeal against the IRDA order directing to refund Rs 275 crore to policy holders, which has been collected in violation of norms.

IRDA to SBI Life Insurance: Refund Rs 275 cr to policy holders

Last Updated: Tuesday, March 11, 2014, 22:28

Insurance regulator IRDA Tuesday asked SBI Life Insurance company to refund Rs 275.29 crore to the policy holders as the amount was collected from them in violation of norms.

IRDA permits insurers to invest in equity ETFs

Last Updated: Monday, March 03, 2014, 23:42

ETF is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.

IRDA prescribes standard format for insurance policy

Last Updated: Monday, March 03, 2014, 22:04

The regulator also said that all insurers also to note that there is a need for maintaining minimum or reasonable font size in respect of all the forms provided or used.

Reliance Life new business income grows 56%

Last Updated: Sunday, February 23, 2014, 15:12

Leading private insurer Reliance Life Insurance has recorded a 56 percent surge in its new business premium income in the first nine months of this fiscal and expects further growth in the current quarter.

Insurers, MFs await regulatory go-ahead for bond trading

Last Updated: Sunday, February 23, 2014, 12:35

Mutual funds and insurance firms are awaiting go-ahead from their respective regulators -- SEBI and IRDA -- with regard to their participation in the newly launched Interest Rate Futures (IRF) on stock exchanges.

Banks' insurance broking model to gain traction in time: IRDA

Last Updated: Monday, February 17, 2014, 16:48

Notwithstanding the tepid response by banks to act as brokers for selling products of multiple insurers, sectoral regulator IRDA is hopeful that this model will pick up in due course even as it said it is renewing the corporate agency licence of banks as of now.

IRDA sets up 9-member panel to review FSLRC recommendations

Last Updated: Sunday, February 02, 2014, 12:29

The committee will also examine the extant legislative and regulatory framework in compliance 14 non-legislative recommendations (NLRs), IRDA said in an order.