Magma HDI General Insurance receives R1 licence from IRDA
Kolkata-based NBFC, Magma Fincorp, said it has received the first phase of licence from the insurance regulator to enter the general insurance space through Magma HDI General Insurance.
Guidelines on Distance Marketing of Insurance Products
These Guidelines are issued in exercise of the powers conferred upon the Authority under Section 14(1) of the IRDA Act, 1999 to protect the interests of the policyholders and to…
GUIDELINES PERTAINING TO AGENTS
IRDA CIRCULAR: Reference is invited to circulars ref. IRDA/CAD/GDL/AGN/016/02/2011 dated 11th February, 2011& IRDA/CAD/GDL/AGN/016/02/2011 dated 14th February, 2011 prescribing guidelines relating to individual agents in respect of life insurance and…
Exposure Draft on Guidelines on Web Aggregators from IRDA
The use of internet is growing rapidly in India. Buyers of Insurance products increasingly access / visit websites to know the features and to compare prices of the products offered…
Insurance Companies advised to increase contribution to Motor TP Pool
The IRDA had conducted an audit of the Third Party Motor Insurance Pool and has established that the pool reserves have to be significantly augmented in order to meet the…
GUIDELINES PERTAINING TO INDIVIDUAL General Insurance AGENTS
Reference is drawn to circular ref. IRDA/CAD/GDL/AGN/016/02/2011 dated 11th February, 2011 prescribing certain guidelines relating to individual agents in respect of life insurance, which, among others, include prescription of minimum…
Guidelines for Individual Agents for Persistency of Life Insurance Policies
Low Persistency of life insurance policies is a cause of concern for the Insurance Regulators worldwide , the Industry, Intermediaries and the Policyholders. Early lapses and surrenders are not desirable…
Penalty on Central bank of India for violating norms
IRDA has imposed penalty of Rs. 5 lacs on Central bank of India for violating provisions of IRDA Act.
Recruitment Notification for the Posts of Senior Joint Director in IRDA
Applications are invited for the following posts in the Insurance Regulatory and Development Authority, Hyderabad
Portability of Health Insurance Policies
IRDA Circular In general, health insurance policies have specific exclusions for pre-existing diseases for a specified period of cover during the initial years. However, it has been observed that in…