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Insurance Regulatory and Development Authority News
Insurance Regulatory and Development Authority
IRDAI allows life insurers to send policy in electronic format
Wed, Aug 05, 2020
However, the life insurers can issue the policy in digital format only on express consent given by the policy-holder. If a policy-holder demands the document in physical format, the same has to be provided without any additional cost, the IRDAI said.
Irdai asks insurers to share status of claims with policyholders from July 1
Wed, Apr 10, 2019
"In case of health insurance, where third party administrators (TPAs) are engaged for rendering claims services, it is the responsibility of insurers to ensure that status of claim shall be notified to the claimant at every stage of claim," the Insurance Regulatory and Development Authority of India (Irdai) said.
Health Insurance: IRDAI panel to examine if accidental, health policy claims can be settled in installments
Sat, Oct 13, 2018
On Friday, Insurance regulator IRDAI said it has set up a "working group" to examine the health insurers' proposal seeking settlement of accidental and health policy claims in installments rather than lump sum payments.
Now, get all micro-insurance products at PoS; All about IRDAI decision here
Sun, Sep 30, 2018
Insurance regulator Irdai has allowed distribution of all micro-insurance products through point-of-sales (PoS), with an aim further increase insurance penetration in the country.
LIC must pare ITC, L&T stakes to below 15% by Dec 2018: Irdai
Tue, Aug 08, 2017
These two are considered as non-strategic investments for LIC. While LIC holds 16.29% stake in ITC, it holds 17.97% stake in L&T as of end June.
IRDAI decision against Sahara India Life raises several questions
Sun, Jul 30, 2017
On the insurance regulator`s serious charge that Rs 78 crore has been siphoned off, industry officials ask what action have the IRDAI or the administrator appointed by it in June 2017 taken in that regard.
IRDAI asks ICICI Prudential to take over Sahara insurance business
Sat, Jul 29, 2017
Embattled Sahara group chairman Subrata Roy had met Irdai chairman to seek more time to resolve the crisis at his life insurance arm on July 24. ICICI Prudential had submitted a valuation report to the regulator to take over the company on the same day.
IRDAI spent only 40% of advertisement budget in 2016-17
Sun, Jun 25, 2017
Unable to spend even 50 per cent of earmarked funds for insurance awareness last fiscal, Irdai is looking for innovative methods to utilise this year's advertisement budget that has been raised to Rs 66.5 crore.
Life Insurers' new premium collection doubles at Rs 16,000 crore in November
Wed, Dec 14, 2016
Bajaj Allianz Life witnessed a rise of 30% in new premium collection at Rs 220.67 crore.