IRDAI to create state insurance plan mirroring SLBCs: Panda
IRDAI is trying to create a state insurance plan in which district potential targets will be aggregated to create plans similar to the State Level Bankers’ Committee (SLBC), IRDAI Chairman…
IRDAI tweaks some pain points in surety bonds, welcome suggestions
IRDAI chairperson Debasish Panda said the insurance regulator has tried to address some of the "pain points" in relation to surety bonds, and stressed that it may make further changes…
IRDAI pushing to onboard Health Exchange, Bima Sugam by Aug 1
IRDAI is pushing to implement two high tech projects – Health Claims Exchange and Bima Sugam – to deepen insurance penetration and simplify the claim procedures. IRDAI Chairman Debasish Panda…
IRDAI challenges stay on Sahara Life Policies’ transfer to SBI Life
The Supreme Court declined immediate hearing on a petition filed by IRDAIchallenging an order of Securities Appellate Tribunal (SAT) staying the insurance regulator’s decision to transfer nearly two lakh policies…
IRDAI asks insurers to create ABHA IDs for policy seekers
IRDAIhas directed insurers to create Ayushman Bharat Health Account (ABHA) IDs, the 14-digit unique identifiers to be issued to all citizens, for both new insurance seekers and existing policyholders. The…
Developing reinsurance hub in India
IRDAI is working towards making India a global reinsurance hub, Chairman Debasish Panda said. The IFSC Gift City in Gandhinagar can become the edifice on which the global reinsurance hub…
IRDAI set to launch single policy covering life, health & property
IRDAIis looking to launch a bundled product which will provide life, health, casualty and property cover in a single insurance policy at an affordable price, its Chairman Debasish Panda said.…
Insurance brokers remain critical despite tech: IRDAI
The insurance regulator has asked intermediaries to develop hybrid and niche customer service platforms for purchasing insurance. The call for online platforms comes at a time when the regulator is…
IRDAI directs insurers to fast-track claim process due to Biparjoy
IRDAIhas asked insurers to settle claims in the states affected by cyclone Biparjoy in an expeditious manner. In a circular to CEOs of all general insurance companies, and standalone health…
Centre mulls rule changes to boost insurance sector
India is considering rule changes to bolster insurance penetration in the country as more companies, including foreigners, line up to enter the segment. “Proposals for amendments to insurance laws include…