IRDAI caps salaries of top insurance officials at 1.50 crore
Insurance companies have been asked to pay from their own account in case annual payout of MDs and CEOs exceeds over Rs.1.50 crore.
by Nishant Patnaik Aug 6, 2016
Don’t force customers to buy insurance: IRDAI to banks
IRDAI found that many banks sell insurance policies in lieu of FDs on the pretext of better returns.
by Nishant Patnaik Aug 3, 2016
Health insurance policies offered by life insurers to be discontinued: IRDAI
Instead, the insurance regulator has asked life insurers to come out with benefits based health insurance policies in which insurers pay reinstatement value on hospitalization.
by Team Cafemutual Aug 1, 2016
No commission on portability of health insurance policies
IRDAI has mandated insurers not to pay commission to intermediaries on portability of health insurance policies.
by Nishant Patnaik Jul 30, 2016
Life insurers profit declines marginally in FY 2015-16
Life insurance industry has recorded net profit of Rs.7,375 crore in FY 2015-16 as against Rs. 7,527 crore in FY 2014-15, a decline of 2%.
by Team Cafemutual Jul 25, 2016
Claimants need not sign acknowledgment receipt at the time of claim settlement: IRDAI
Now, insurers cannot insist policyholders or claimants to sign on acknowledgement receipt during claim settlement.
by Nishant Patnaik Jul 21, 2016
Aditya Birla group to float health insurance business
The total number of standalone health insurers has gone up to six.
by Team Cafemutual Jul 18, 2016
15 new players gets IRDAI license for open architecture model in insurance distribution
In just three months, 15 new entities have received licenses from IRDAI to float Insurance Marketing Firm (IMF), taking total count of such players to 29.
by Team Cafemutual Jul 16, 2016
Now, agents can sell Pradhan Mantri Bima Suraksha Yojana through sales representatives
IRDAI has allowed Point of Sales Person (PoSPs) of intermediaries to distribute government approved insurance schemes.
by Nishant Patnaik Jul 15, 2016
IRDAI inducts two new members in Insurance Advisory Committee
Secretary of both Life Insurance Council and General Insurance Council have been inducted in the committee.
by Team Cafemutual Jul 12, 2016
Low insurance penetration reflects large untapped potential: Credit Suisse
A Credit Suisse report found that the insurance penetration in India was very low at 3.44% in calendar year 2015.
by Team Cafemutual Jul 7, 2016
IRDAI imposes Rs.10 lakh penalty on Max Life Insurance
Max Life Insurance is found to have not refunded the excess premium amount which was charged during proposal stage.
by Team Cafemutual Jul 1, 2016
Now, agents can sell crop insurance policies through sales representatives
IRDAI has allowed Point of Sales Person (PoSPs) of intermediaries to distribute government approved crop insurance schemes.
by Nishant Patnaik Jul 1, 2016
95% of Indians are underinsured for any health crisis: BigDecisions survey
The survey shows that consumers above 45 years of age are a high risk group and are least prepared for health emergencies.
by Team Cafemutual Jun 30, 2016
IRDAI may relax agency norms to sell simple insurance policies
Individuals who wish to distribute plain vanilla products like motor third party insurance may be allowed to sell them without acquiring agency license.
by Nishant Patnaik Jun 29, 2016
