IRDAI has recently notified draft product guidelines to review and standardise the 2013 regulations on linked and non-linked insurance products. The new draft proposals will make the exit route easier…
Reference is invited to the provisions of Section 64 VB of Insurance Act,1938 and the circular ref: IRDA/Life/Misc/Cir/06/05/2015 dated 17th May 2015 on the issue of acknowledgements on collection of premiums.…
IRDAI is working on mechanism to return Rs. 15,000 crore of unclaimed deposits lying idle with life insurers. For amounts stuck in pension schemes, IRDAI has asked life insurers to…
The Authority had issued the following circulars with regard to the captioned matter: Circular Ref: IRDAI/NL/CIR/MOTP/158/09/2018 dated 20th September, 2018. Circular Ref: IRDA/NL/CIR/MOTP/170/10/2018 dated 9th October, 2018. 2. Feedback has been received…
Insurance policyholders are set to get substantial benefits, with IRDAI proposing significant changes to revival of policies and enhancing guaranteed benefits while surrendering the cover ahead of maturity. IRDAI has…
A working group set up by IRDAI has suggested that Chronic diseases like Alzheimer's, Parkinson's, AIDs/HIV infection and Morbid obesity should be covered under medical cover if a person contracts…
After enactment of IRDA Act, 1999, IRDAI was empowered to grant license to Surveyors and loss assessors. In the year 2001-02, Authority carried out the one-time exercise of categorization of…
IRDAI has said that HIV-positive individuals cannot be denied insurance cover, unless supported by actuarial studies. The regulator has asked insurers to stop discriminating against persons with HIV/AIDS. IRDAI has…
IRDAI’s chairman urged insurers to focus on customer satisfaction and value addition to products to ensure sustainable growth of the industry. “Insurance entities must provide more value to customers. As…
IRDAI has that it will set the timeline to reduce LIC's shareholding in IDBI Bank from 51 % to 15%. However, it added that the timeline will only be set…