The IRDAI has prescribed aspirational targets for non-life insurance industry, days after doing the same for life insurance companies. The aim is to increase the general insurance penetration to 2.52…
The IRDAI has given flexibility to insurers to empanel network providers in health cover. In a circular sent to insurance firms and third-party administrators, the insurance regulator said: “The insurers…
IRDAIhas allowed general insurers to launch products for the agriculture and allied activities without its prior approval. Last month, IRDAI had permitted insurers to launch health and most of the…
IRDAI has asked Insurance companies to take a leaf from the banking industry’s strategy for inclusion by companies adopting individual states as lead insurers. IRDAI has also set goals in…
IRDAI is mulling to extend testing of products under the regulatory sandbox mechanism to up to three years. The IRDAI Chairman said all these initiatives will help in furthering the…
A selection panel of the Ministry of Finance (MoF) has selected eight new Insurance Ombudsmen for various centres across the country. Atul Sahai, former CMD, New India Assurance (NIA) has…
IRDAI said it has set up two task forces to suggest steps to sort out issues between insurers and re-insurers. The decision by the IRDAI follows meetings with representatives of…
IRDAI has permitted general insurance companies to introduce tech-enabled concepts for the Motor Own Damage (OD) cover in order to offer customers usage-based insurance covers as add-ons to the basic…
IRDAI’s decision to do away with pre-approval for launch of life insurance products will go a long way in providing ease of business, innovation in the industry, according to experts.…
IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal,…