LIC IPO may spill over to next fiscal
The mega initial public offering of Life Insurance Corp (LIC) may spill over to the next fiscal as the government will first look at the independent actuarial valuation of…
IRDAI sets up panel to examine need for standard cyber liability insurance product
Irdai has set up a panel to explore possibility of a basic standard product structure to provide insurance cover for individuals and establishments to manage their cyber risks. The…
IRDAI extends Electronic Consent for Life Insurers
IRDAI has extended the facility for life insurers to obtain the consent of prospective policy holders electronically by three months till March 31, 2021. In view of the disruption of…
Insurers should be allowed to enter surety bond business: IRDAI working group
Irdai working group on surety bonds, has said insurers should be allowed to enter into surety bond insurance business with solvency margin above a certain threshold. This is because…
IRDAI tweaks norms on sale of life cover without wet signature
Life insurers should provide a standard presentation on the product being sold without the physical signature of the policyholder. A copy of such standardised presentation should also be e-mailed…
IRDA issues draft for standard vector-borne disease cover like dengue, malaria
IRDAI has released an exposure draft for a standard vector-borne disease health policy which will have a minimum sum assured of Rs 10,000 and a maximum of Rs 2…
IRDAI invites comments for amendments in insurance advertisement regulations
IRDAI has proposed to prohibit insurers from issuing advertisements that make claims which are beyond reasonable expectations of performance. The unfair and misleading advertisements will include those which fail…
Launch uniform life policy: IRDAI to Insurers
IRDAI directed all life insurers to come out with a standard plan 'Saral Jeevan Bima' from January 1, 2021. The product will have the same features, benefits, inclusions and…
Centre looks to boost export credit disbursal through Rs 8,000 crore insurance scheme
The Central Government is considering a special scheme for exporters under which a premium subsidy of up to Rs 8,000 crore will be provided on export credit insurance, sources…
Pollution among the top risk factor for deaths in India
Long-term exposure to air pollution contributed to around 6.7 million deaths globally from stroke, heart attack, diabetes, lung cancer, chronic lung diseases, and neonatal diseases in 2019 with China (1.8…