Life insurance companies record first fall in new biz premiums growth since July
Latest data from the IRDAI showed that the NBP in November for life insurers came at Rs. 19,159 crore against Rs. 26,221 crore in the same period last year, recording…
Insurers may reduce premium for healthy customers
With the IRDAI recently allowing life companies to incorporate wellness into their policies, life insurers are working on their plans to offer wellness benefits. Tata AIA Life Insurance plans to…
Standard personal accident product
There is a wide variety of personal accident insurance products in the market at present. Each product has unique features, making it a challenge for the insured to choose the…
IRDAI may not ban but may tweak sale of credit-linked health policies
IRDAI may not bring a blanket ban or prohibition on the sale of credit-linked health insurance products. Instead, IRDAI may consider tweaking the mechanism in which credit-linked health insurance products…
IRDAI proposes standard travel insurance policy by April 1
IRDAI has proposed a standard travel insurance policy with common coverage and policy wordings across the industry. The move is aimed at increasing penetration of the product. "The standard product…
IRDAI clarifies about premium increase in health insurance
IRDAI has clarified that it has permitted general and health insurers to change the base premium by up to +/-5% of originally approved premium rates in order to comply with…
IRDAI proposes a cap of Rs. 1 crore in draft norms on standard accident insurance policies
IRDAI has issued draft guidelines on standard personal accident insurance policies and advised all general and standalone health insurers to offer this product from 1 April 2021. The product, which…
IRDAI not in favour of making insurance mandatory
IRDAI is of the opinion that insurance cannot be made mandatory despite India being a massively under-insured country. "There has generally been a feedback that either the regulator (IRDAI) or…
IRDAI gives in principle nod to ICICI Lombard to buy Bharti AXA General
IRDAI has approved in-principle acquisition of General Insurance business of Bharti AXA General Insurance by ICICI Lombard General Insurance, the company said in a statement. Earlier, Competition Commission of India…
Health Insurance Landscape: Before & Beyond 2020
‘Pandemic providing more opportunities than challenges in Health Insurance Segment.’ Health overtakes Motor: Year 2020 will forever be remembered as a decisive, dreadful & most disruptive time in the history.…