IRDAI PRODUCT REGULATION 2013
Insurers can change rates by up to 15% without IRDAI nod
IRDAI has now allowed insurers to alter the mode of premium payment to an instalment basis without having to file the product afresh with it.
Soon pay health insurance premium in installments
The change in frequency of premium payment has been permitted through a circular permitting...
IRDAI issues new norms to curb life insurance misselling, makes illustrations mandatory
The IRDAI has asked insurers to start providing benef...
IRDAI sets up single point of contact for regulatory sandbox
The Insurance Regulatory and Development Authority of India (Irdai) has already invited applications for the RS from September 15 to October 14, 2019.
Don't buy insurance from this fake website: IRDAI
Irdai has previously clarified that neither it nor its officials are involved in activities like sale of any kind of insurance or financial products.
Certain illnesses in 1st 3 months of health insurance policy to be treated as pre-existing disease
A pre-existing disease is a condition, ailment or injury that already exists at the time you buy a health insurance policy.
Irdai asks public not to fall prey to fictitious calls offering higher policy benefits
Any person making any kind of transaction with such individuals/agents will be doing the same at their own risk, Irdai said.
IRDAI sets up panel to revisit 3-yr old trade credit insurance guidelines
IRDAI said it decided to revisit the guidelines after it received representations from various stakeholders.
Irdai issues norms for standardized health insurance product
While the minimum entry age is kept at 18 years for principal insured, the maximum age at entry is 65 along with lifelong renewability. There shall be no maximum exit age.
Indian boards are meeting a tad more often
Public sector undertakings (PSUs) have a higher frequency of board meetings. The median number for the 16 PSUs in BSE100 index was 13, compared with 11 in FY15.
IRDAI may relax rules for pension plans & ulips, make surrenders easy
Now, minimum sum assured on death can be seven times the annualised premium.
Irdai keeps third party motor insurance rates unchanged for new fiscal
The annual increase depends on the vehicle type and engine capacity and it goes up by 10-20% every year.
Regulator may tweak rules governing Ulips
At present, units are deducted from Ulips if one buys riders with it.
After RBI, Sebi & IRDAI launch initiatives to boost startups
IRDAI said that with the regulatory sandbox approach, fintechs “will have a safe and conducive space to experiment and where the consequences of failure can be contained.”
IRDAI in favour of 100% FDI for entire insurance intermediary sector
The increase in foreign direct investment (FDI) limit to 100 per cent will not result in significant inflow of foreign capital.
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