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INSURANCE MISSELLING
He trusted Canara Bank for 31 Years, then was sold a life insurance plan that pays at age 93; IRDAI orders Rs 4 lakh refund and ₹1 crore fine for mis-sellingIRDAI has imposed a ₹1 crore penalty on Canara HSBC Life Insurance Company over the sale of a deferred annuity policy to an 88-year-old cus...- Voice AI startup Arrowhead eyes fresh funding to accelerate international expansionArrowhead is betting on BFSI-led international expansion as it scales voice agents across lending, insurance, collections and customer serv...
- Stocks in news: Canara Bank, Vodafone Idea, Premier Energies and ACME SolarIndian equity markets saw a slight recovery on Thursday after recent declines. Canara Bank plans to raise substantial funds through bond is...
- Public Insurance Registry: From tracking policies to improving claim processing, how PIR could benefit policyholdersIndia's Insurance Regulatory and Development Authority of India (IRDAI) has introduced a groundbreaking Public Insurance Registry aimed at ...
- Who gets the key when the CEO refuses to drive?The unexpected departure of HDFC Bank's CEO highlights critical gaps in corporate succession strategies. It's imperative that boards establ...
- Curb misselling, not agents: Insurance reform needs a scalpel, not a hammerIndian insurance regulators are rethinking intermediary payment structures to reduce misselling. Proposed reforms aim to lower distribution...
- Rough patch! How HDFC group delivered a Rs 4.4 lakh crore blow to investors in one yearIn a significant downturn, HDFC group stocks saw a staggering loss of Rs 4.4 lakh crore in market capitalization over the last year. HDFC B...
- Does being rich make you a better investor? Why HNIs often become vulnerable and a better target for wealth managerBeing rich does not automatically make you a better investor. It just means that you get sold to differently. And it makes you more vulnera...
- Insurance distribution boosts fee income at most public sector banks in FY26Public sector banks earned higher insurance commissions in FY26, with most lenders reporting growth. Mutual fund distribution income showed...
- Two general insurance licences approved since 100% FDI move by govt: Irdai chairman Ajay SethIndia's insurance regulator has greenlit two proposals for 100% foreign ownership in general insurance firms, following the government's FD...
- Sell more, earn more! RBI's Shaktikanta Das cautions banks about big risksThe Reserve Bank of India Governor cautioned banks about misselling practices. He stressed the importance of ethical conduct for the bankin...
- Economic Survey flags misselling, claims issue in insurance sectorWhile referring to financial products misselling, the survey said that misselling and misrepresentation need acknowledgment, with firms com...
- IRDAI to enhance scrutiny of health & savings plans aimed at individuals over 55 to curb missellingThe insurance regulator is looking to tighten scrutiny and enhance transparency to prevent misselling of complex insurance products targeti...
- Bank assurance sought to curb misselling of insurance productsSome of the measures being considered may include a cap on commission charges paid to banks for selling insurance products, stricter disclo...
- Govt may mandate video recording by insurance agents to curb mis-sellingThe government considers mandating audio-video recordings of insurance agents' sales pitches to combat mis-selling. Consumer affairs depart...
- RBI to ensure banks do not mis-sell insurance productsSince banks have a huge network of branches, insurance companies have tied up with them to sell their products.
- To curb misselling, Irda may ban incentives to bank staffThe regulator will come out with a differential commission structure for agency and banks. This could shave off incentives for bankers sell...
- Plug loophole leading to misselling of insurance products or else face penalty: RBI to banksAt present, BCSBI -- a quasi-regulatory body -- has set a limit of Rs 10,000 beyond which a customer is not liable for fraudulent ecommerce...
- Reserve Bank India caps customer liability in fraudulent dealsBCSBI —a quasi-re Rs 10,000 beyond which a customer is not liable for fraudulent ecommerce transactions, provided the customer has notified...
- Lip service bad for Ulips, says Irda chiefIrda chairman J Hari Narayan said misselling of Ulips continues to be an issue, though there has been a marginal drop in the number of comp...
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