IRDAI has released a set of draft product regulations that will force insurers to review their profit margins and rejig distributor commissions. In this draft circular, the regulator has suggested…
Bima Vistaar, the first of its kind all-in-one affordable insurance product for life, health, and property cover, is set to be rolled out in the first quarter of the next…
IRDAI has proposed new rules to protect policyholders' interests under which insurance companies will have to substantially increase the amount they pay to customers who choose to discontinue their scheme…
The insurance sector is expected to transition to the risk-based capital (RBC) regime and the Ind-AS accounting standard by 2025, which will help the sector align with global standards under…
Bucking the overall positive market trend, life insurance stocks declined by up to 8 per cent after the IRDAI proposed a higher surrender value for life insurance companies. In the…
IRDAI is considering the creation of a body like the state-level bankers’ committee (SLBC), Chairman Debasish Panda said. “Several state governments have taken the initiative to constitute state-level committees and…
IRDAI has formed a task force to assess how the Digital Personal Data Protection Act, 2023, will impact the insurance industry, according to a circular issued by IRDAI. In a…
The total number of people killed in road crashes across the globe recorded a 5% reduction in 2021 compared to 2011 – from 1.25 million to 1.19 million, as per…
Over a decade since their debut, zero-depreciation policies have become the top choice for 95% of new car buyers. Often referred to as bumper to bumper coverage, they do not…
Public sector general insurers have lost market share again with aggressive private companies taking the competition to new levels. PSU insurers saw their combined market share declining to 31.99 per…