IRDAI imposes Rs 51 lakh penalty on four insurers

Insurance regulator Irdai has imposed a penalty of  Rs 51 lakh on four insurers, including SBI General Insurance, for violation of norms related to motor insurance.

published on : 19th April 2021

Specify reasons when rejecting insurance claims: IRDAI cautions insurers

The Insurance Regulatory and Development Authority of India (IRDAI) has cautioned insurers against not being transparent to policyholders while rejecting health insurance claims.

published on : 22nd March 2021

Don't modify existing health insurance policies that leads to higher premium: Irdai tells insurers

The status report needs to be submitted by September 30 of every financial year to the authority along with board's suggestions and corrective actions to be taken.

published on : 18th March 2021

Life insurance companies see 21 per cent rise in new business premium to Rs 22,425 crore in February

The 24 life insurance companies in the country had their collective new business premium of Rs 18,533.19 crore in the same month a year ago.

published on : 9th March 2021

Saral Suraksha Bima: 'Standard accident cover mandatory from April 1', says IRDAI

However, when offered as a family cover, the chosen sum insured will apply to each family member separately.

published on : 1st March 2021

New Saral Pension scheme offers retirees options

Under the scheme, insurers will pay the policy holders a minimum sum of Rs 1,000/ month, Rs 3,000/ quarter, and Rs 12,000/ year.

published on : 1st March 2021

IRDAI asks health, general insurers to bring standard accident cover from April

The Insurance Regulatory and Development Authority of India (Irdai) said the insurance market has a wide variety of personal accident insurance products.

published on : 26th February 2021

IRDAI ramps up efforts to bring drone insurance products to the market

The regulator noted in its circular that only a few general insurers in India are currently offering coverage for drones. 

published on : 15th February 2021

IRDAI cautions public not to fall prey to fraud by Digital National Motor Insurance

Irdai hereby urges the public to remain alert and not to fall prey to fraud and cheating indulged in by the said entity.

published on : 12th February 2021

Mashak Rakshak: Standardised cover for vector-borne diseases on the cards

This policy aims to provide treatment or hospitalization cover for those who are diagnosed with vector-borne diseases. 

published on : 8th February 2021

Insurers asked to adopt one aspirational district each, says IRDAI Chairman

The regulator IRDAI, is engaged with the insurance industry to improve awareness and push appropriate products which are need-based.

published on : 20th January 2021

Digit Insurance becomes India’s first unicorn of 2021

Digit Insurance’s portfolio covers health, travel, property,  and even mobile insurance, a segment not typically covered by major players.

published on : 16th January 2021

Insurance Regulatory Development Authority of India moots standard travel insurance cover

According to the proposal, there will be uniform features and clauses and all insurers will have to offer this product from April this year. 

published on : 4th January 2021

IRDAI moots standard personal accident cover

The standard product will need to be offered with a policy term of one year and also cover expenses towards hospitalisation.

published on : 14th December 2020

‘Unfair to use illness cover as collateral’ 

The Finance Ministry is considering a move to stop the practice of using critical illness policy as collateral for various loans, said officials.

published on : 3rd December 2020
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