IRDAI

IRDAI has introduced direct plans in insurance from April 1, 2023. The insurance regulator has asked insurance companies - life, non-life and standalone health insurers to devise a board approved…

10th January, 2023 This circular is issued in exercise of the powers conferred under Regulation 12 of IRDAI (Appointed Actuary) Regulations, 2022 and under Section 14(2)(e) of IRDAI Act, 1999.…

The world knows the importance of insurance as financial protection for any unforeseen loss or damage of property or life. The price of insurance, called premium, is the most loved…

Insurance is an intangible product. It has always been a tough product to manufacture (underwrite) and more tough to sell. But there is a glimmer of change on the horizon,…

IRDAI has finally launched ‘BimaSugam’, the online marketplace for insurance called. It is a part of IRDAI’s Bima Trinity - BimaVistaar, BimaVahak, and BimaSugam. BimaSugam the most coveted project of…

Insurance Regulatory & Development Authority of India (IRDAI) in its 125th meeting held on 19 March, 2024 has granted Certificate of Registration to a new health insurer namely, Galaxy Health…

IRDA has mooted a higher surrender value and lower charges for life insurance companies. An exposure draft released by the insurance regulator pitched for a significant increase in the surrender…

IRDAI has set up a high-level panel to suggest steps to increase the participation of banks for easy availability of insurance products across the country. Despite the large network of…

IRDAI has increased scrutiny on the ultimate beneficiaries in the transfer of shares within the insurance broking sector. This increased diligence has led to an extension in the approval timelines,…

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…