Insurance sector to shift to RBC, Ind-AS by 2025
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…
IRDAI diktat weigh on life insurance stocks
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 considering SLBC-like body: Panda
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…
Task Force on the Impact of the DPDP Act is formed by IRDAI.
According to a circular sent by the Insurance Regulatory Authority of India (Irdai) on November 24, a task group has been established to evaluate the potential effects of the Digital…
IRDAI creates a panel to streamline insurance policy phrasing
A committee was established by regulator IRDAI to streamline insurance policy wording and assist consumers in making educated decisions before to purchasing coverage. Within eight to ten weeks, the eight-member…
IRDAI establishes a committee to boost banks’ involvement in the sale of insurance goods
A high-level panel has been established by regulator IRDAI to recommend ways to encourage banks to participate in making insurance products easily accessible throughout the nation. The contribution of the…
IRDAI establishes a committee to boost banks’ involvement in the sale of insurance goods
A high-level panel has been established by regulator IRDAI to recommend ways to encourage banks to participate in making insurance products easily accessible throughout the nation. The contribution of the…
IRDAI provides insurers with a combined exposure draft on EoM.
Based on the advice of the Regulation Review Committee (RRC), IRDAI has produced an exposure draft on the Expenses of Management (EoM) that includes a commission for both life and…
Provide insurance cover to staff travelling in employers’ vehicle: IRDAI tells insurers
IRDAI has asked general insurers to provide cover to employees travelling in employer's vehicle. The Madras High Court had directed IRDAI to make IMT-29 compulsory as an in-built coverage for…
IRDAI Chief urges stakeholders to harness surety bonds
Asserting that the current Bank Guarantee capacity of banks is insufficient to meet the credit demand for infrastructure development in the next five years, IRDAI Chairman Debasish Panda has called…