IRDAI launches “Telematics”
Why should a careful driver who doesn't cover many miles and drives predominantly during off-peak hours should pay the same premium as the one who drives recklessly? "There are a…
Private equity funding for insurance start-ups
IRDAI Chairman T S Vijayan mentioned at the 19th CII Insurance Summit that there was scope for a lot of small insurance companies today with focus on specific area of…
Over-regulation blamed for underwriting losses
Recently, as the Finance Ministry warns the PSUs for huge underwriting losses and their dependence on investment income for profits, a report co-authored by a former Member of the Insurance…
IRDA hints a cap on expense ratio
While speaking at the annual insurance summit organized by the Confederation of Indian Industry (CII), Chairman T.S. Vijayan asked insurers to start offering cost-effective insurance policies to customers.“The cost has…
Insurance Regulator Provides Some Relief To Ulip Holders
Policyholders, who had put in money in unit-linked insurance plans (Ulips) and discontinued later, have a reason to cheer. The Insurance Regulatory and Development Authority of India (Irdai), through a…
Unclaimed Amounts of Policyholders
IRDAI has issued various directions regarding the Unclaimed Amounts of Policyholders from time to time. IRDAI has consolidated and issued a Master Circular. The Government of India has brought in…
IRDAI’s consumer booklet highlights misselling as major problem for insurance industry
Misselling is a huge problem for the insurance industry as, of 1.72 lakh complaints in 2016-17, about 50% related to unfair business practices, according to IRDAI's consumer booklet 2016-17. SBI…
Biggest merger of the country is back in IRDAI’s court
HDFC Life Max Life if the biggest merger in the country’s insurance sector, the HDFC Life-Max Life deal, has been returned by the Attorney General (AG) to the Insurance Regulatory…
IRDAI wants govt. to increase the retirement age of the members
The Insurance Regulatory and Development Authority of India (IRDAI) has addressed to the government seeking an increase in the retirement age of its members. The regulator has sought an age…
Fairfax gets R1 nod from IRDAI
IRDAI has given its initial approval (R1) to another venture Fairfax Financial Holdings owned by Canada-based Indian billionaire Prem Watsa. IRDAI had given a provisional approval to the new…