Nirmal Bazaz Appointed Honorary Secretary of IBAI
The Insurance Brokers Association of India (IBAI) has announced Mr. Nirmal Bazaz as its new honorary secretary. Mr. Bazaz, who is also a director at IBAI, brings over 30 years…
Health insurance claim denial: Check reasons against policy terms first
Health and general insurers paid 82 per cent of claims by volume and 71.3 per cent by value (Rs 1.17 crore), according to the Insurance Regulatory and Development Authority of…
The ombudsman dilemma: Free relief or stacked deck?
When businessman Mukesh Garg's two claims were rejected, he represented himself before the insurance ombudsman, a statutory body for out-of-court settlements, but sought third-party help with the paperwork-a decision he…
AII Non-Life and Stand-Alone Health insurers except AIC & ECGC
Review of revision in premium rates under health insurance policies for senior citizens 1. The IRDAI has undertaken a series of reforms in the recent past reinforcing empowerment of policyholders…
One-time Mandate for blocking the amount towards premium through Unified Payments Interface (UPI mandate) for issuance of life and health insurance policies- Bima-ASBA
1. Reference is drawn to Master Circular on Protection of Policyholders’ Interests numbering IRDAI / PP&GR / CIR / MISC / 117 / 9 / 2024 dated 5th September 2024…
Editorial – IT March 2025
India's insurance industry stands at the cusp of transformative change, driven by a series of strategic initiatives spearheaded by the IRDAI, aim to enhance operational efficiency, protect policyholder interests, and…
Unlocking the Implication of Warranty
It is heartening to note that the regulator in India (IRDAI) recently formed a high-power panel to suggest measures for insurance reforms. It is expected to examine various areas of…
IRDAI Forms Expert Panel to Revamp Insurance Regulations
Introduction The Insurance Regulatory and Development Authority of India (IRDAI) has set up a seven-member committee to review and recommend changes to the Insurance Act, 1938. This move aligns with…
Insurance Regulatory and Development Authority of India (Re-insurance Advisory Committee) (Amendment) Regulations, 2025
F.No. IRDAI/Reg/3/210/2025. — In exercise of the powers conferred by sub section (2) of section 101B, read with clauses (zb) and (zd) of sub section (2) of section 114A of…
Insurance Regulatory and Development Authority of India (Insurance Advisory Committee) (Amendment) Regulations, 2025
Date: 1st January, 2025 F. No. IRDAI/Reg/2/209/2025.—In exercise of the powers conferred by clause (e) of sub section (2) and sub section (1) of section 26, read with section 25…