Wed, Jan 08, 2025
According to IRDAI's 2023-24 annual report, this amount was Rs 22,237 crore at the beginning of the financial year 2023-24.According to Global Data Analysis, from 2018-19 to 2022-23, LIC accounted for more than 90 per cent of the total non-claim amount.
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Thu, Dec 12, 2024
Insurance regulator IRDAI may introduce new rules aimed at reducing the heavy reliance on parent banks in bancassurance, sources told Zee Business.
Wed, Nov 20, 2024
Insurance companies definitely need low-cost distribution solutions like the ones offered by the banks, which have a massive spread across the country and cover nearly all the inhabited places.
Sun, Oct 27, 2024
IRDAI Proposes Strict Rules to Curb Fraud After Data Leaks and Online Scams at Companies Like Star Health Insurance.
Tue, Aug 20, 2024
After the Insurance Regulatory and Development Authority's instructions, mutual fund distributors and insurance agents will be able to use each other's CKYC data.
Sat, Jun 22, 2024
It will be necessary to make it clear in all advertisements that the bonus or past performance or return of the product / plan cannot be considered a future guarantee.
Wed, Jun 19, 2024
The acquisitions, divestments and merger Committee of the board of directors of the bank at its meeting held on June 19, 2024, has approved a proposal for acquisition of additional equity shares of Max Life by the bank for an amount of up to Rs 336 crore, Axis Bank said in a regulatory filing.
Thu, Jun 13, 2024
Insurance regulator IRDAI has issued a master circular for insurance companies. What are the new rules for insurance companies? Know complete details with VarunDubey
As the IRDAI has proposed a higher surrender value, players like HDFC Life and Max Life are likely to see the most impact.
HDFC Life Insurance Company anticipates an impact of approximately 100 basis points on the company's New Business Margin (NBM) after IRDAI recently maintained surrender value on early exits by policyholders
Wed, Jun 12, 2024
IRDAI issued a circular clarifying that claims will not be rejected in the name of documents. How much change will this initiative of IRDAI bring in the general insurance sector? Watch this report of Aapki Khabar Aapka Fayda
Thu, May 30, 2024
Sharing some of the salient features of the master circular, Irdai said that wider choice should be provided by the insurers by making available products/addons/riders by offering diverse insurance products catering to all ages, regions, medical conditions/ all types of Hospitals and Health Care Providers to suit the affordability of the policyholders.
Wed, May 29, 2024
IRDAI's master circular on health insurance, policy holders will get many facilities... 'No Claim Bonus' if no claim is taken in a year, customers will get many product options
Tue, May 28, 2024
In FY24, LIC completed 1,158,805 policies through the Ananda App, marking a 42.84 per cent growth compared to FY23 when 811,278 policies were sold via the app.
Wed, May 22, 2024
The new commission structure will reduce the front loading cost of life insurance companies, which may benefit the policy holder in the form of lower premium and better surrender value.
The registration shall be valid from May 21, 2024 to May 20, 2027, Mahindra Finance said in a regulatory filing.
Tue, May 14, 2024
When we want to buy a health insurance policy for senior citizens, some of the questions that arise are: What should be the waiting period? Should it include a no-claim bonus? Should there be a co-pay option? Will it have specific coverage and inclusion?
Sat, May 11, 2024
After the finalisation of the first gram panchayat for each insurer, the council should share the list with the Insurance Regulatory and Development Authority of India (Irdai).
Mon, Apr 29, 2024
Complex documentation procedures also significantly contribute to these delays.
Mon, Apr 22, 2024
People above 65+ years of age will also get insurance, IRDAI has abolished the age limit for insurance. 'Insurance companies should give plans for every age... Insurance companies should issue insurance offers for the elderly' - IRDAI... Know the complete news from Ekta Suri.
Sun, Apr 21, 2024
As per the earlier guidelines, individuals were allowed to purchase a new insurance policy only till the age of 65.
Tue, Mar 26, 2024
Scores of insurers in India are likely to get relief after IRDAI changes its rules on the surrender value of insurance policies. Under the revised rules, the surrender value will be decided by the policy surrender period. That means, the longer the policy surrender period, the higher the surrender value. For the single-premium policy, if the policy is surrendered in the third year, the insurer will get 75 per cent of the total premium paid; if the policy is surrendered in the fourth year, the insurer will get 90 per cent of the total premium paid.
Fri, Mar 01, 2024
Pay As You Drive (PAYD): Motor insurance is mandatory by the government, and necessary for your vehicle's damage cover in case of an accident. In the form of an insurance claim, you get compensation for those losses.
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