IRDAI eases firm registration process from 8 to 2 months
The registration process of new companies has been eased by substantially reducing the time taken to process new applications from 6-8 months to two, Debasish Panda, chairman, IRDAI said. The…
IRDAI proposes to make issue of insurance policies in demat form mandatory
Insurance regulator has proposed mandatory issuance of all insurance policies in electronic form. A senior insurance executive confirmed the development and said that this will be done through Insurance Repository…
IRDAI pitches for affordable health insurance for all
Insurance regulator made a strong case for reducing expenses to make health insurance affordable for everyone. Addressing the 'Health Insurance Summit 2022' here, IRDAI chairman Debasish Panda said that high…
IRDAI eases NPS regulations
IRDAI has done away with the need to submit a separate proposal form for taking an annuity product from proceeds of National Pension Scheme (NPS). Currently, retirees submit an exit…
IRDAI reduces number of returns to be filed by insurers for health insurance
In order to further cut compliance burden for insurance companies, regulator IRDAI rationalised health insurance business returns reporting norm by reducing the number of returns that need to be filed…
IRDAI plans to dematerialise all Insurance policies
IRDAI has mandated dematerialisation of new insurance policies by this year-end. It has urged all insurance companies to dematerialise their existing or old policies by December-end, industry experts have said.…
IRDAI mulls introducing portability option
IRDAI may soon come up with a new norm with respect to changing an insurance agent. In order to enhance customer experience, and make services better and more convenient for…
Banks line up Additional tier plans after IRDAI opens door to insurers
Lenders from Bank of Baroda to State Bank of India are lining up plans to raise about Rs 10,000-15,000 crore in the next two months through additional tier-1 bonds, according…
IRDAI flags reforms for investment, expenses
IRDAI has backed its growth push by flagging off reforms in the areas of investment, distribution and management expenses for insurers. The reforms envisage easing limits on investing in the…
IRDAI allows insurers to empanel hospitals
In a bid to enhance the scope for offering cashless facility in health covers across the country, IRDAI has now allowed the insurers to empanel the hospitals that meet the…