Insurance industry needs Rs 50,000 cr investment per year, says IRDA 

Indian insurance market, which is currently the tenth biggest in the world, will be the sixth biggest by 2032.

published on : 21st January 2023

Insurers approach govt for resolution in fake ITC case

If cos contest DGGI claim then they will have to admit to the practice of paying commissions to agents above the cap stipulated by IRDAI.

published on : 11th November 2022

Panel formed to suggest ways to increase health insurance reach

One of the objectives of the committee is also to make recommendations to put in place systems for servicing health insurance that can plug into the e-platform – Bima Sugam. 

published on : 27th October 2022

Health insurers allowed to choose hospital network

Earlier, only those hospitals that were part of the IIB’s Registry of Hospitals in the Network of Insurers (ROHINI) could be empanelled in the network of hospitals for cashless facilities.

published on : 22nd July 2022

Motor insurance: Vehicle use, driving behaviour to determine premium

The Indian Insurance Regulatory and Development Authority (IRDAI) has allowed insurers to design add-on-own damage (OD) insurance plans based on concepts like Pay-as-You-Drive and Pay-How-You-Drive.

published on : 7th July 2022

Our industry needs to focus on customer engagement, involvement: Reliance General Insurance

The official said the Insurance Regulatory and Development Authority of India (IRDAI) has been a key enabler in helping the overall insurance industry grow.

published on : 28th June 2022

IRDAI allows life insurers to launch products without prior approval

When the industry was in nascent stage, it was made mandatory for the insurance companies to take prior approval before launching any life insurance product.

published on : 10th June 2022

PNB likely to reduce stake in UTI AMC, Canara HSBC OBC Life in FY23

The bank holds 23% in Canara HSBC OBC Life Insurance and 15% in UTI Mutual Fund.

published on : 13th May 2022

IRDAI permits insurers to design alternative products to cover fire, other perils

These standard products replaced the Standard Fire and Special Perils (SFSP) policy for the named risks and no product other than the standard products was permitted for fire and allied risks.

published on : 12th May 2022

Govt appoints ex-financial services secretary Debasish Panda as IRDAI chief 

Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, retired as financial services secretary in January this year after a two-year stint.

published on : 11th March 2022

PM Modi to address webinar on Budget by Finance Ministry on March 8

To facilitate efficient and speedy implementation of budget announcements, the Government of India is holding a series of webinars across various key sectors, the Finance Ministry said in a statement.

published on : 7th March 2022

Web aggregator Policybazaar gets insurance broking licence from IRDAI

The broking licence will allow the company to venture into segments which it could not do in the past like claims assistance, offline services, and establish Points of Presence network.

published on : 11th June 2021

Irdai for minimising exclusions in health insurance policy

The regulator has set up a 10-member committee to analyse the health insurance policy nomenclature.

published on : 25th July 2018

Insurance regulator calls for standardising city hospital costs

The IRDAI chief also underlined the need for standardisation of costs of healthcare from one hospital to another in a city. 

published on : 18th December 2017

Linking Aadhaar with insurance policies mandatory: IRDAI

In a communication to all life and general insurance companies, Irdai said the rules have "statutory force" and as such they have to implement them without awaiting further instructions.

published on : 8th November 2017