Insurers can’t reject cocktail Covid therapy
IRDAI has asked companies not to reject Covid claims for antibody cocktail therapy. By terming it as an 'experimental' treatment, the regulator has also asked insurers to review the claims…
General insurers settle only third of claim amount due to natural calamities during FY21
General insurers settled only a third of the total claim amount due to natural calamities during the financial year ended March 2021, amounting to nearly Rs 761 crore, according to…
Intermediaries can maintain current accounts in appropriate number of banks: IRDAI
IRDAI said insurance intermediaries, including entities sponsored by them, can maintain current accounts in appropriate number of banks for the purpose of meeting regulatory requirements and reinsurance business. In August…
Hospitals needs to be regulated
Insurance regulator IRDAI wants hospitals to be regulated and is not averse to even doing it by itself if allowed by law, a top official said. "We wish that there…
‘Delay in appointing IRDAI chairman unwarranted
An over three month delay by the centre to appoint the new IRDAI chairman following the retirement of former chairman Subhash Khuntia on May 6, is impeding regulatory progress and…
IRDAI questions price hikes by reinsurers
Concerned over pricing pressures in life and non-life products in the wake of Covid, the Insurance Regulatory and Development Authority of India (IRDAI) has questioned global reinsurers on rate hikes…
Jana Small Fin Bank ropes in ex-Irdai chief
Jana Small Finance Bank appointed former Insurance Regulatory and Development Authority of India (Irdai) chairman Subhash C Khuntia as part-time chairman. The 1981-batch IAS officer was earlier chief secretary to…
Irdai moots premium hike for rebuilding in disaster areas
The insurance regulator has mooted the introduction of a differential premium for insured properties that are rebuilt on sensitive terrain after a natural disaster. This followed an observation that even…
Dividend Criteria for Equity Investment under “Approved Investment”
In continuation to circular no: IRDAI/F&I/CIR/INV/065/03/2021 Dt 31st March, 2021 on the subject, the Authority in exercise of its powers conferred under Regulation 14(2) of the IRDAI (Investments) Regulations,…
IRDAI working group suggests title insurance for home buyers
IRDAI has recently constituted a working group that submitted a report related to the product structure of title insurance to develop a standard product and recommend measures to spur demand…