Saral set to heat up term insurance mkt
The term protection market in the life insurance industry is set to heat up with insurers readying to launch Saral — a standard term policy that has been designed by…
IRDAI’s plan to prohibit use of critical illness policy as collateral for loan may affect nonlife industry
IRDAI is exploring at prohibiting the use of critical illness policies as collateral against housing or vehicle loans. It's a common practice to have a life insurance or…
IRDAI notifies Minimum Information for Insurers, Intermediaries and Insurance Intermediaries
On November 23, 2020, the IRDAI has notified the IRDAI (Minimum Information Required for Investigation and Inspection) Regulations, 2020. The Notification will come into force from May 24, 2021.…
IRDAI mulls basic standard policy for cyber attacks
IRDAI has formed a working group, to examine the need for standard cyber liability insurance products. Observing that cyber attacks are on the rise with a number of high-profile…
When is the right time to buy a Health Insurance Policy?
Post Covid-19, nothing ever seemed so unpredictable and beyond control but life. True? Thinking about the right time to buy a health insurance policy? The best time to buy a…
IRDAI sets up panel to examine need for standard cyber liability insurance product
Irdai has set up a panel to explore possibility of a basic standard product structure to provide insurance cover for individuals and establishments to manage their cyber risks. The…
IRDAI extends Electronic Consent for Life Insurers
IRDAI has extended the facility for life insurers to obtain the consent of prospective policy holders electronically by three months till March 31, 2021. In view of the disruption of…
IRDAI tweaks norms on sale of life cover without wet signature
Life insurers should provide a standard presentation on the product being sold without the physical signature of the policyholder. A copy of such standardised presentation should also be e-mailed…
IRDAI invites comments for amendments in insurance advertisement regulations
IRDAI has proposed to prohibit insurers from issuing advertisements that make claims which are beyond reasonable expectations of performance. The unfair and misleading advertisements will include those which fail…
Launch uniform life policy: IRDAI to Insurers
IRDAI directed all life insurers to come out with a standard plan 'Saral Jeevan Bima' from January 1, 2021. The product will have the same features, benefits, inclusions and…