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,…
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,…
1. The Authority (IRDAI) had issued circulars ref: IRDA/F&I/CIR/F&A/012/01/2010 dt. 28.01.2010 and IRDA/F&I/CIR/PBDIS/105/05/2011 dt. 27.5.2011 on “Public Disclosures by Insurers”. Guidelines on Periodic Disclosures were also issued by the Authority…
Insurance regulator Irdai on Wednesday said insurers can maintain current accounts in an appropriate number of banks for premium collection and policy payments for the convenience of policyholders and ease…
An insurance claim can be rejected if the policy has lapsed on account of non-payment of premium, said the Supreme Court which stressed that the terms of an insurance policy…
The "pay and recover" principle requiring insurance firms to pay accident claims and then recovering them from vehicle owners cannot be applied in cases where the policies have lapsed, the…
One of the major findings of the recently released All-India Debt and Investment Survey (NSS 77th Round) by the National Statistical Office is the pronounced inequality in the distribution of…
India is becoming the global leader on digital transformation across sectors. In less than a decade, extraordinary initiatives like Aadhaar, UPI, DigiLocker, CoWIN, Account Aggregator etc have established a playbook…
Term insurance has a simple premise amongst various insurance products — providing life cover against death with sum insured (SI) in return for yearly premiums. Premiums for 1 crore SI…
The year 2021 is coming to an end. The last 2 years has been turbulent for all sectors but the Insurance industry after initial hiccups is recovering fast and is…