IRDAI to launch pilot project for uninsured vehicles
A pilot project will be launched by IRDAI in order to drive awareness campaign. The upcoming project will help the insurance companies in improving their premium collections, said IRDAI chairman…
Norms for Regulatory Sandbox notified by IRDAI
IRDAI said that it has notified regulations regarding the Regulatory Sandbox approach in order to promote innovation in the sector had been notified. The regulator said guidelines on the operation…
RC of stolen, scrapped vehicles needs to be canceled: IRDAI
IRDAI has recently directed insurers to ensure Certificate of Registration (RC) cancellation of the vehicle in case of total loss claim settlement. “It has come to the notice of the…
IRDAI issues notice for not buying policies from fake website
With an aim of generating awareness, IRDAI has recently issued a notice for not buying insurance policies from this fake website: www.irdaionline.org. IRDAI also clarified in the same notice that…
Solvency will be maintained in DHFL insurance arms, says IRDAI chief
The IRDAI has stated that it will assure no solvency issues for insurance subsidiaries of troubled Dewan Housing Finance Corporation. “We will ensure that solvency is maintained. As of now,…
IRDAI introduces new norms for ULIP and non-linked products
IRDAI has recently issued new norms for life insurance products inclusive of ULIP and non-linked products. According to the new rules, the minimum death benefit in non-linked policy has been…
IRDAI relaxes repayment conditions in suicide cases
In a recent move, IRDAI has relaxed the repayment conditions in case of death due to suicide. The IRDAI has directed the domestic life insurers to refund the premium to…
IRDAI asks Axis to bring fare value deal to buy more Max Life stake
IRDAI has asked Axis Bank to rework its proposal for buying an additional 10% in Max Life Insurance, as informed by the inside sources. The IRDAI has asked the Axis…
Ganesh K to take charge as Whole Time Member-Life of IRDAI
The appointment committee of the cabinet (ACC) has notified that LIC Executive Director Ganesh K will take charge as the new whole-time member (life) at IRDAI. Ganesh has worked across…
IRDAI nullifies unequal recruitment process
IRDAI has invalidated the recruitment process for different posts after allegedly being alarmed over perceived anomalies. It has also made a decision of sprucing up internal governance practices pertaining to…