Insurers cause loss of Rs.353 crore to exchequer: CAG
A few life insurance companies have been found delaying and mis-calculating service tax payment incurring a huge loss to exchequer.
by Team Cafemutual May 13, 2015
‘Direct non-life insurance policies gaining momentum in India’
24% and 12% of Indians had bought motor insurance and health insurance policies respectively through online channel, shows a survey conducted by ICICI Lombard and Google India.
by Team Cafemutual May 13, 2015
IRDAI warns insurers on increasing policyholder’s grievances
The insurance regulator has asked insurance firms to put in place a robust mechanism in order to improve their grievances redressal system.
by Team Cafemutual May 4, 2015
IRDAI imposes Rs. 60 lakh fine on United India Insurance
United India had distributed its insurance policies through insurance intermediaries who were not empanelled with them and delayed claim settlement process in a few instances.
by Team Cafemutual May 4, 2015
IRDAI updates syllabus for insurance agency examination
Also, introduces course material for standalone health insurance examination.
by Team Cafemutual Apr 27, 2015
IRDAI allows Gramin banks, NGOs, self-help groups to distribute micro insurance policies
Micro insurance schemes are designed for the lower income population.
by Team Cafemutual Apr 24, 2015
IRDAI proposes to cap first year commission at 5 percent for CSCs
The regulator has proposed to cap the commissions under traditional life insurance policies at 5% of the premium in the first year for Common Service Centres (CSCs).
by Team Cafemutual Apr 17, 2015
IRDAI imposes Rs. 5 lakh fine on Reliance General Insurance
Reliance General Insurance had settled claims through Third Party Administrators (TPAs) instead of paying claim amount directly to the policyholders.
by Team Cafemutual Apr 13, 2015
Agents need to obtain identity cards before June 30 to sell insurance policies
Agents will have to pass two examinations – Insurance Agency Examination and Standalone Health Insurance to sell insurance policies after the given date.
by Team Cafemutual Apr 10, 2015
Now life insurers to charge fees for changing or cancelling nomination
IRDAI has allowed life insurance companies to charge up to Rs.100 to change or cancel nomination in offline policies and up to Rs.50 to carry out such services in online policies.
by Team Cafemutual Apr 6, 2015
Corporate agents can now tie up with 9 insurers
Now banks can sell insurance policies of three life, three general and three standalone health insurance companies.
by Team Cafemutual Apr 6, 2015
IRDAI hikes motor third party premium rates
The new rates have come into effect from April 1, 2015.
by Team Cafemutual Apr 2, 2015
