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IRDAI mulls idea to link your insurance premium to traffic violations

A High Powered committee has requested IRDAI to examine the establishing of a system of linking of motor insurance premium with traffic violations.

Sep 09, 2019, 17:02 PM IST

Collective new premium of 24 life insurers jumps 94% to Rs 32,241 crore in June

The April-June, 2019-20 collective new premium income of 24 life insurers jumped 65.09 percent to Rs 60637.22 from Rs 36729.80 as compared to the same quarter last year.

Jul 15, 2019, 17:56 PM IST

Third-party insurance premium for cars, two-wheelers to be hiked from June 16

Customers can also pay single premium rate -- 3-year for new cars and 5-year for new two wheelers.

Jun 05, 2019, 13:21 PM IST

Irdai proposes non-exclusion of critical illnesses in health policies

With the increase in the number of health insurance companies as well as health insurance products in the market, Irdai in draft guidelines proposes that the health insurance industry should adopt a uniform approach while incorporating exclusions in the health insurance products.

May 18, 2019, 17:46 PM IST

Irdai asks insurers to share status of claims with policyholders from July 1

Irdai also asked insurers -- life, health and general -- to send all communication about issuance and servicing of policies through letter, e-mail, SMS or any other electronic form approved by it.

Apr 11, 2019, 09:04 AM IST

Policy holders may get option to get accident/health claim benefits in installments

Insurance Regulatory and Development Authority of India (Irdai) had set up a working group to study the proposal.

Jan 22, 2019, 12:22 PM IST

Insurance industry goes on tech drive to expand coverage

Irdai proposed to encourage companies to develop new technologies, asked insurers to make their products more attractive and customer friendly.

Dec 31, 2018, 11:53 AM IST

Irdai allows single personal accident cover for multiple vehicles

Currently, a vehicle buyer has to buy a CPA for every vehicle he or she purchase.

Dec 13, 2018, 12:32 PM IST

Reliance Health Insurance gets final nod from Irdai to start ops

The company plans to commence operations by the December quarter of 2018.

Oct 05, 2018, 14:24 PM IST

IRDAI extends deadline for insurance policies until SC decides the matter

The Insurance Regulator and Development Authority of India decision to indefinitely extend the March 31 deadline comes in wake of the Supreme Court order.

Mar 25, 2018, 20:22 PM IST

Cost standardisation in health insurance need of hour: Vijayan

Irdai chief T S Vijayan also laid a premium on insurers making their policies simple and affordable for a wider reach so that these are availed by the needy and the uncovered.

Dec 18, 2017, 13:19 PM IST

Take measures to fix cyber security gaps: IRDAI to insurers

Insurers have also been asked to firm up their Cyber Crisis Management Plan (CCMP) for handling cyber incidents more effectively.

Oct 13, 2017, 18:24 PM IST

ICICI Lombard gets Sebi go-ahead for Rs 6,000 crore IPO

In case of SBI Life, the market regulator received the required details from IRDAI on August 28 and the case is currently "under process" at Sebi's end.

Sep 05, 2017, 17:20 PM IST

Sahara to challenge IRDAI order on life insurance biz transfer to ICICI Prudential

Embattled Sahara group on Sunday said it will approach court of law against IRDAI order directing transfer of its life insurance business to ICICI Prudential and alleged that the insurance regulator has "wrongly concluded" that the promoter was no more 'fit and proper' and a sum of Rs 78 crore was siphoned.

Jul 30, 2017, 17:50 PM IST

IRDAI asks ICICI Pru to take over Sahara insurance business

Insurance regulator Irdai on Friday asked leading private sector life insurer ICICI Prudential Life Insurance (IPRU) to take over the business of beleaguered Sahara India Life Insurance (SILIC), with effect from July 31.

Jul 28, 2017, 22:52 PM IST

IRDAI appoints administrator for Sahara Life Insurance Company

Insurance regulator IRDAI on Monday appointed an administrator to manage Sahara India Life Insurance Company, saying Subrata Roy-run insurer was "acting in manner" prejudicial to interest of subscribers.

Jun 12, 2017, 20:08 PM IST

Max Life, HDFC Life 'committed to merger', weighing options

Max India on Thursday said Max Life and HDFC Life remain committed to merger and are evaluating various options after the insurance regulator Irdai again expressed reservations on the deal.

Jun 08, 2017, 11:47 AM IST

Irdai forms panel for reinsurance framework review

Insurance regulator Irdai has set up a 17-member committee to conduct a comprehensive review of the existing reinsurance framework.

May 08, 2017, 18:06 PM IST

IRDAI issues new outsourcing guidelines for insurers

The sectoral watchdog Irdai has issued new guidelines on outsourcing activities by insurers by clearly defining the areas of work that should be done in- house and those which can be handed out to third-parties.

May 07, 2017, 12:12 PM IST

Iradai asks LIC to trim holdings in companies to 15% or below

Regulator Irdai has asked the life insurance behemoth LIC to prepare a roadmap to pare its stake to 15 per cent in firms where it breaches this ceiling, but has stopped short of setting a time-frame for the same.

Apr 30, 2017, 15:12 PM IST