The IRDAI has given flexibility to insurers to empanel network providers in health cover. In a circular sent to insurance firms and third-party administrators, the insurance regulator said: “The insurers…
IRDAIhas allowed general insurers to launch products for the agriculture and allied activities without its prior approval. Last month, IRDAI had permitted insurers to launch health and most of the…
IRDAI has asked Insurance companies to take a leaf from the banking industry’s strategy for inclusion by companies adopting individual states as lead insurers. IRDAI has also set goals in…
IRDAI is mulling to extend testing of products under the regulatory sandbox mechanism to up to three years. The IRDAI Chairman said all these initiatives will help in furthering the…
IRDAI said it has set up two task forces to suggest steps to sort out issues between insurers and re-insurers. The decision by the IRDAI follows meetings with representatives of…
IRDAI has permitted general insurance companies to introduce tech-enabled concepts for the Motor Own Damage (OD) cover in order to offer customers usage-based insurance covers as add-ons to the basic…
IRDAI is considering a proposal to make insurance frauds a parameter for calculating credit scores in an attempt to put a lid on the increase in such activity. The proposal,…
IRDAI has reduced the solvency margin requirement for general insurers doing crop business. The decision can free up a capital of Rs 1,400 crore, which IRDAI expects will increase the…
A panel formed to suggest overhaul of the general insurance industry has recommended that insurers relax investment rules, such as permitting investment in Additional Tier-1 (AT-1) bonds of banks, removing…
IRDAI is examining a proposal that may allow customers, both retail and corporate, to take loans for buying an insurance and spread premium payment over longer duration. Known as premium…