Don’t rely on your group life cover alone
A recent survey by Marsh India Insurance Brokers found the percentage of companies offering life insurance coverage as part of employee benefits had increased from 60 per cent in 2010…
Investment in Units of “Real Estate Investment Trusts (REIT) &Infrastructure Investment Trusts (InvIT)”
The Authority under Section 14 (2) (k) of IRDA Act, 1999, issues the following amendment to Master Circular - Investments, 2016, which shall be effective from the date of issue…
Approach on the un-reconciled, unsettled outstanding reinsurance balances as on 31st March, 2014
Reference is drawn to IRDA circular no. IRDA/BRK/ MISC/CIR/ 208/09/ 2014 dated 3rd September, 2014 outlining the approach on the un-reconciled, unsettled outstanding reinsurance balances as on 31st March, 2014…
File & Use procedure for minor modifications under existing products and riders offered by Life Insurers
To all the CEOs of Life Insurance Companies 1. Change in current File and Use procedure The products offered by Life Insurers need to keep pace with changing requirements of…
Guidelines on Claim processing for Group Insurance Policies – Addition of new Categories of Master Policyholders
The Authority issued Guidelines on Claim Processing for Group Life Insurance Policies under Lender Borrower Schemes vide cir ref: IRDA/Life/Cir/GDL/285/12/2014 dated 29/12/2014 which provided that insurers may settle the outstanding…
Exposure Draft on “Information and Cyber Security Framework for Insurance Sector”
Cyber security in the financial sector has gained importance, more so with the advent of technological innovations. In this connection, IRDAI has planned to come out with a comprehensive Information…
Insurance Awareness Campaign, in the form of Radio jingles
Insurance Regulatory and Development Authority of India (IRDAI) has launched an Insurance Awareness Campaign, in the form of Radio jingles, for a period of six months starting from 20th February,…
Chandigarh Ombudsman Dismisses Sushiksha Mitra’s Mediclaim Due to Unnecessary Hospitalization
Chandigarh Ombudsman Centre Case No. GIC/119/NIC/14/07 Sushiksha Mitra Vs National Insurance Co. Ltd. Facts: Susiksha Mitra had taken a mediclaim policy from BO Gurgaon. She was hospitalized for a day…
Chandigarh Ombudsman Upholds Denial of Mediclaim for H.C. Nair Due to Investigation Clause
Chandigarh Ombudsman Centre Case No. GIC/128/NIC/11/07 H.C. Nair Vs National Insurance Co. Ltd. Facts: HC Nair had taken a Mediclaim policy for sums insured of Rs. 50,000 for self and…
Chennai Ombudsman Orders Royal Sundaram to Settle Health Shield Policy Claim
Chennai Ombudsman Centre Award No. 11.08.1058 / 2006 - 2007 Shri. G. S. Venkataraman Vs The Royal Sundaram Alliance Ins. Co. Ltd The complainant represented that he had taken a…