Car Owner Wins Insurance Claim Despite Delayed Notification
The complainant had purchased a second hand car and the ownership of the vehicle was transferred in his name in the books of the RTO.on 24.11.5015 a day before the…
Complaint Ref:No.AHD-G-023-1617-1560 Ashish B. Monpura v/s Iffco Tokio General Ins. Co. Ltd.
The complaint was regarding deduction made from the car repairing claim after accidental damage. Claim made for Rs.19854/- was settled for RS.12381. The insurer could prove that the amount was…
Complaint Ref. No. AHD-G-051-1718-0200 Mr. Rajesh K. Parmar V/s Oriental Insurance Co. Ltd.
The Complainant’s Scooter was stolen on 10.05.2016 when it was parked near his shop at Kamal Complex, I.O.C. Road, Chandkheda, Ahmedabad. The intimation of theft of vehicle was given by…
IRDAI Draft Guidelines On Standardization Of Individual Health Product
A. Preamble: 1. As health products differ significantly with each other in terms of benefits offered, it is considered essential that the potential customers seeking health insurance shall have an…
Cover for Compulsory Personal Accident (CPA) for Owner-Driver under Motor Insurance Policies
1. The Authority had issued the following circulars with regard to the captioned matter: Circular Ref: IRDAI/NL/CIR/MOTP/158/09/2018 dated 20th September, 2018. Circular Ref: IRDA/NL/CIR/MOTP/170/10/2018 dated 9th October, 2018. 2. Feedback…
Intimation of receipt of premium through SMS by the Insurer to the Policyholder
Reference is invited to the provisions of Section 64 VB of Insurance Act,1938 and the circular ref: IRDA/Life/Misc/Cir/06/05/2015 dated 17th May 2015 on the issue of acknowledgements on collection of…
Clarification on outsourcing activities undertaken by Insurance Web Aggregators and remuneration payable
1. The Authority is in receipt of queries from insurance companies on the remuneration, reward and outsourcing charges payable to an Insurance Web Aggregator. 2. Attention is drawn to regulation…
Addendum 2 to Order – Steering Committee for Implementation of Risk Based Capital Regime for Indian Insurance Industry
1. Further to order ref: IRDA/ ACT/ ORD/ MISC/ 220/ 09/ 2017 dated 20 September, 2017, the Competent Authority has revised the Terms of Reference of the Steering Committee for…
Complaint Ref. No. HYD-L-021-1718-0312
Sri. Jai Prakash Agarwal V/s M/s ICICI Prudential Life Insurance Co.Ltd Brief Facts of the Case: Mr. Jai Prakash Agarwal filed a complaint that M/s ICICI Prudential Life hard unilaterally…
Maintenance of Current Accounts in multiple banks by Insurers
1. Insurers maintain separate current accounts with banks at different operational levels, i.e., Branch offices, Controlling offices, Corporate offices, etc., for the purpose of premium collection, management expenses, policy payments,…