Panel to update syllabus for insurance brokers by IRDA
In an effort to cut down unauthorized and unqualified personnel's involvement in solicitation process at some of the insurance broking firms, the Insurance Regulatory and Development Authority…
IRDA, RBI discuss concerns over insurance broking
In an effort to address the concerns of banks taking the broking route for selling insurance policies, the top brass of the Insurance Regulatory and Development Authority…
12 insurance cos imposed Rs 5 cr fine by Irda this fiscal
Twelve insurance companies including market leaders HDFC Life and ICICI Prudential Life was levied a fine of nearly Rs 5 crore during 2012-13 by IRDA. HDFC…
Irda issues revised guidelines on micro insurance products
The Insurance Regulatory and Development Authority has issued revised guidelines on micro insurance products. The final set of regulations is expected to be drafted soon. Irda's…
IRDA asks SBI Life Insurance to repay 275 crores to Policyholders
IRDA during onsite inspection conducted in December, 2010 found that M/s.SBI Life Insurance Company Limited (the Life Insurer) has offered Dhanaraksha Plus Limited Premium Paying Term (LPPT) Group Insurance Product…
IRDA: Implementation of Standard Proposal form for Life Insurance
After examining various representations received from Life Insurance Industry, the competent Authority , under the provisions of Regulation 12 of IRDA (Standard Proposal form for Life Insurance ) Regulations,2013 ,…
Guidelines for Individual Agents for Persistency of Life Insurance Policies
IRDA has issued some modifications for persistency of Life Insruance Policies. In modification of Guidelines for Individual Agents for Persistency of Life Insurance Policies vide Ref: IRDA/CAD/GDL/AGN/016/02/2011 dated 11-02-2011 and…
IRDA considering health policies with 5 years span
IRDA is considering a proposal to allow five year policies with the hope to improve the health portfolio of insurance companies as well as to ease the process of renewal…
Now, demat insurance covers under one folioR
Now all policies be it life, health or motor can be dematerialized and maintained under a single account. With the introduction of demat to the insurance business, including automatic reminders…
IRDA drafts stricter regulations to stop insurance agents from selling ponzi plans
With the bust of the Saradha scam, the Insurance Regulatory Development Authority has come out with more stringent guidelines to prevent them from marketing ponzi schemes. The guidelines state that…