Irda, has come out with a draft regulation on selling insurance via e-commerce platforms to help increase insurance penetration.

"GIC Re being an Indian reinsurer should enjoy preference in the order of cessions by Indian insurers," IRDA said in the exposure draft.

A majority of the 14.8-million micro-policies sold in FY12 was term insurance, which offers no maturity benefit to the policy holders.

The proposed regulations have been made to help increase the penetration of the sector in rural and semi-urban areas, Irda said.

Reliance Life has sought approval of the sectoral regulator IRDA for two new health plans and is aiming to launch them in current quarter.

General insurance cos planning to tap capital market for funds should have 10 year experience from the sector regulator, IRDA said.

The New Pension System is wholly welcome but not a new regulator.

Concerned about the fast pace of regulatory changes being brought into the sector, the life insurance industry has approached sector regula...

On October 21, IRDA had asked insurers to stop selling ULPs till November 4 on the face of alleged violations in sale of these products.

The regulator has told insurance companies that all current universal life plans will cease to exist from October 22.

IRDA's new guidelines protecting ULIPs holders from mis-selling by dealers and onerous commissions will come into effect from Wednesday.

IRDA on Monday said it would frame new guidelines for these products to make them more attractive for policy holders.

Life Insurance Council said insurers will abide by IRDA's direction & would continue biz as usual.

L&T General Insurance is readying to launch its operations in the next 3-5-months, a top company official said.

Insurance cos are sticking by Ulips despite downtrend in equity markets, going by recent product approvals given by the IRDA of the 22 prod...

Life Insurance Corporation (LIC) may soon have to take permission from Insurance Regulatory and Development Authority (IRDA) to set up new ...

Insurance companies now need to report branch expansion plans to the Insurance Regulatory and Development Authority .