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…
August date for bancassurance guidelines: IRDA
Sudhin Roy Chowdhury, Member (Life) IRDA recently said that the final guidelines on bancassurance are likely to be out in the month of August.. "We have debated and redebated and now…
Courier firms make false insurance claims: IRDA
IRDA has recently cautioned public that claims of insurance cover made by courier companies are false, as these firms do not have the permission or authority to offer insurance cover. The…
IRDA may scrap proposals of bank tie up with insurance companies
With Financial Services Secretary Rajiv Takru communicating to the IRDA that the proposal to have a zone-wise tie-up with banks will be very messy, the insurance regulator may scrap the…
Insurers can deal with financial derivatives with 10 yrs’ tenure: IRDA
IRDA has proposed to permit insurance companies to deal with financial derivatives with 10 years duration. As per existent rules, insurers are permitted to enter Forward Rate Agreements (FRAs), Interest…
New norms for traditional insurance products from October: IRDA
The new norms for traditional insurance products will come into force from October 1 this year. However, the norms would not impact the industry, said T S Vijayan, Chairman of…
Insurance firms soon to get nod to invest in ETFs of PSUs
In a move to allow the government tap into the huge resources of insurance companies and ensure long term investments through the ETF mode, the insurance sector…
No agent can transfer corporate licence in 1 yr: IRDA
The Insurance Regulatory and Development Authority (IRDA) recently said no agent / corporate agent can seek transfer from one insurer to another within one year of grant…
Insurance companies can enter with agreement with repositories: IRDA
IRDA recently said that insurance companies could enter into service – level agreement with one or more insurance repositories that have been granted certificate of registration.