Insurance

PFRDA simplifies norms to become pension fund manager

The pension fund regulator has simplified norms for becoming trustees and sponsors of NPS.

by Team Cafemutual Feb 23, 2024

Agents/intermediaries will be held responsible for unclaimed amount of their clients

IRDAI said that agents and intermediaries will have to trace clients and update their contact details, bank account etc. across all unclaimed policies.

by Nishant Patnaik Feb 20, 2024

Onus of proving policyholder gave false information to get coverage rests with insurers: IRDAI

IRDAI has also issued draft advertisement guidelines in which it has asked insurers and distributors not to mislead policyholders with extraordinary benefits.

by Nishant Patnaik Feb 19, 2024

Soon, agents will be able to sell insurance policies completely online

IRDAI has issued draft guidelines on constitution of Bima Sugam, a digital platform by IRDAI to distribute insurance.

by Nishant Patnaik Feb 14, 2024

Insurance penetration in India is 4%, lower than global average of 6.8%

However, the penetration of Indian life insurance industry is better than the global average.

by Riddhima Bhatnagar Feb 9, 2024

Now, ayurvedic and alternative treatments qualify for the entire sum insured

IRDAI has asked insurance companies to remove cap on sum insured from AYUSH treatment.

by Team Cafemutual Feb 7, 2024

IRDAI directs insurers to reduce premium in direct plans

The insurance regulator has asked insurance companies to deduct commission expenses in directly sourced policies.

by Nishant Patnaik Feb 2, 2024

IRDAI introduces new commission structure for agents/intermediaries

The new commission structure will be applicable for three years.

by Nishant Patnaik Jan 30, 2024

IRDAI to simplify norms to attract more agents/intermediaries

The insurance regulator will review the existing guidelines for agents, broker and other intermediaries.

by Nishant Patnaik Jan 24, 2024

ICICI Pru Life launches an annuity offering 100% surrender value on discontinuation from day 1

The annuity product will give back 100% of premiums paid at any time starting from the date of purchase.

by Team Cafemutual Jan 23, 2024

Know how many insurance agents are active

Of the total 26.28 lakh life insurance agents, 27% of them or 7.24 lakh agents sell general insurance policies. This number was 11.58 lakh for standalone health insurers.

by Nishant Patnaik Jan 23, 2024