Life insurers record 22 percent growth in new business premium collection
The growth was largely on account of LIC which contributed more than 75% of the premium collection amount.
by Nishant Patnaik Feb 1, 2014
IRDA issues new product guidelines for rural market
These low ticket policies will have simple structure and come with features like minimum sum assured and partial withdrawal facility.
by Team Cafemutual Jan 31, 2014
IRDA defers implementation of standard proposal form
The regulator is open to discuss the provisions of standard proposal form regulation with the industry.
by Team Cafemutual Jan 31, 2014
IRDA asks insurers to put a warning in their advertisements
From February 1, 2014, all insurance companies will carry IRDA’s message in their advertisements.
by Team Cafemutual Jan 29, 2014
IRDA committee to evaluate the development of Insurance Marketing Firms
The insurance regulator may allow Insurance Marketing Firm (IMF) to charge for marketing expenses.
by Nishant Patnaik Jan 25, 2014
IRDA warns LIC, ICICI Prudential for violation of anti-money laundering guidelines
Both companies were found not adhering to AML guidelines.
by Team Cafemutual Jan 24, 2014
Insurance agents may get to have multiple tie ups
Allowing insurance agents to sell multiple insurance products will give a wider choice to investors.
by Nishant Patnaik Jan 23, 2014
New guidelines for web aggregators
IRDA has recently issued the guidelines for web aggregators in which it has mandated them to provide unbiased content and information of insurance policies.
by Team Cafemutual Jan 22, 2014
AUM of life insurers grew by 10 percent in FY 2012-13
In FY 2012-13, even though the collection of new business premium declined by 6%, the industry witnessed a 10% growth in its AUM.
by Team Cafemutual Jan 20, 2014
IRDA sets up committee to allow 100 percent FDI in insurance intermediaries and TPA
A ten-member committee will submit its report on FDI in insurance intermediaries within three months.
by Team Cafemutual Jan 14, 2014
Life insurers settle 96 percent claims in FY 2012-13
Out of the 23 private insurance companies, only five have crossed 90% mark in claim settlement ratio of individual policies.
by Nishant Patnaik Jan 11, 2014
13 lakh insurance agents call it quits: IIB
Of 37 lakh valid life insurance agency licenses in India, only 24 lakh agents are active, says IRDA.
by Nishant Patnaik Jan 8, 2014
Service tax applicable on IRDA services from Jan 1
Now, insurers, agents and brokers have to pay service tax on the services such as registration, licenses from IRDA
by Team Cafemutual Jan 6, 2014
Penetration and density of insurance industry shrinks
Life insurance sector witnessed decline in its penetration and density while non-life saw a marginal growth.
by Team Cafemutual Jan 6, 2014
Complaints against life insurers for unfair business practice go up by 67 percent
However, complaints for proposal processing and policy servicing declined by 52% and 9% respectively.
by Nishant Patnaik Dec 31, 2013
