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INSURANCE IRDAI NEWS
The old health insurance model sees hospitalisation as an inconvenience, says Narayana Health's Viren Prasad Shetty; bets on managed care modelIt has been close to two years since Narayana Health’s wholly owned subsidiary, Narayana Health Insurance—which has adopted a ‘managed heal...- From complexity to clarity: How AI is transforming insurance for customersArtificial Intelligence is revolutionizing insurance in India. Customers now start their search online, with AI simplifying complex policie...
- Lost insurance records? Here’s how IRDAI’s Public Insurance Registry aims to fix the problem for policyholdersIndia's insurance sector is set for a major upgrade. The IRDAI is creating a Public Insurance Registry and Bima Sugam platform. These initi...
- Have unclaimed insurance amount? Here’s how to check and claim your hidden wealthOver Rs 25,000 crore remains unclaimed in Indian insurance policies due to forgotten claims or unaware nominees. Tracking and claiming thes...
- GST relief to boost insurance penetration, ease burden on policyholders: Nilesh SatheThe government's GST reform has eliminated the 18% tax on insurance premiums, a move expected to boost insurance penetration in India. Whil...
- Irdai chairman Debasish Panda seeks more conglomerates to enter insurance; regulator nudging more cos to listIrdai chairman Debasish Panda encourages conglomerates to join India's insurance sector, emphasizing growth opportunities. He highlights ef...
- Irdai proposes to tighten norms for media campaigns by insurersUnder the proposed amendment, each insurer will be required to constitute an advertisement committee comprising at least three members mand...
- IRDAI chief gives tips to make Indian insurance market largest"The market (insurance) size is estimated to reach USD200 bn by FY '27 at the present growth rate. However, we have aspirational plans and ...
- Irdai provides more flexibility to insurers, eases limits for commissionsThe insurers have been told by Irdai that their commission and remuneration payout should be based on a board-approved policy which will be...
- How much can you save using a pay-as-you-drive motor insurance policy?The nominal discounts being offered on premium are not worth the restrictions placed on mileage.
- Should you take car insurance linked to distance, driving style?Pay-as-you-drive policies allow buyers to set a mileage limit for their car and offer them discounts over the normal premium. The lower the...
- Health insurers can't reject Covid claims for antibody cocktail therapy: IrdaiInsurers have been ordered by the regulator to assess claims denied or deductions made in all such cases and take appropriate action to pay...
- Irdai’s Saral cover to heat up term insurance marketThe term protection market in the life insurance industry is set to heat up with insurers readying to launch Saral — a standard term policy...
- Scope of health insurance coverage to get wider soon but policies may become dearerDue to the prevailing COVID 19 outbreak, the need for prolonged hospitalisation of almost 2 weeks pushes the claims costs. These factors ar...
- Hike in 3rd party motor insurance premium for FY2020-21 put on holdThis move may well be due to the lockdown in the country due to the coronavirus infection spread and the situation arising from it.
- How IRDAI protects policyholders from crises at insurance companiesInsurers are required to follow certain investment norms, like they cannot invest in debt securities with a rating below AAA. If any asset ...
- Insurance companies can no longer exclude many illnessesThe insurance regulator on Monday said age-related ailments such as cataract surgery, knee-cap replacements, Alzheimer’s and Parkinson’s wo...
- From Jan 1, IRDAI allows unbundling of compulsory personal accident cover in motor policiesEffective January 1, on expiry of a bundled CPA cover, it may be replaced with a stand-alone CPA cover and the same may be taken from any g...
- Behind LIC's plan to pull IDBI out of a banking messWith LIC coughing up the money, the government has one less bank to deal with whenever it considers capital allocation for public sector ba...
- Insurers can't accept defunct Rs 500/1,000 note towards premiumA news item has been brought to Irdai's notice, which says that the Authority has instructed insurers to accept old notes for premium.
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