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Irdai News

Irdai to treat purchase of green bonds as infra investments

“Investment in sovereign green bonds shall be treated as investment in infrastructure and shall be classified as Central Government Securities,”…

Updated: January 17, 2023 10:21 IST

Irdai member says number of life insurance firms stagnant

The number of life insurance companies in the country had remained at 24, with 23 firms operating for the last…

Updated: January 12, 2023 08:43 IST

unit-linked products, LIC unit-linked products , lic premium growth

Irdai annual report for 2021-22: Premium for traditional products sees double-digit growth

The share of unit-linked products in total premium marginally decreased to 14.47% in 2020-21, against 14.50% in 2019-20.

December 23, 2022 03:45 IST

Burning cost rates for fire insurance not to be embedded: Irdai

“The authority has observed that reinsurance treaty agreements in many instances include, as a precondition or prescription, the requirement to…

Updated: December 21, 2022 07:15 IST

insurance, life insurance, health insurance, general insurance, insurance agents, Insurance Regulatory and Development Authority of India, IRDAI, insurance for all, insurance companies, insurance penetration

IRDAI’s new notification throws open wider choices for customers, corporate agents

The measures taken by the IRDAI would help in increasing the insurance penetration in the country, as a corporate agent…

December 13, 2022 18:46 IST

insurance, insurance sector reforms, Insurance Regulatory and Development Authority of India, IRDAI, general insurance, life insurance, corporate agents

IRDAI 11-point reforms aim to achieve the mission of ‘Insurance for all by 2047’

The reforms recently announced by the IRDAI would help in bolstering the ease of doing business and will aid in…

November 30, 2022 11:56 IST

irdai, insurers, insurance, FRBs, IFSC insurance office,

Irdai proposes increase in cession limits of insurers

It had released the first draft on October 21 after reviewing the current regulations, IRDAI (Reinsurance) Regulations, 2018.

November 27, 2022 05:50 IST

Irdai proposes management expense limit for insurers

The Insurance Regulatory and Development Authority of India (Irdai) has also proposed to remove caps on payment of commission to…

Updated: November 24, 2022 13:10 IST

Foreign reinsurers get nod to repatriate excess assigned capital

Issuing a circular on repatriation of assigned capital by FRBs and Lloyd’s India, the Insurance Regulatory and Development Authority of…

Updated: October 27, 2022 07:22 IST

mental illness, mental illness insurance, mental illness coverage

Irdai tells insurers to cover mental illness by month-end

“Insurers are requested to confirm compliance before October 31, 2022,” Irdai said in a circular issued on Tuesday.

October 20, 2022 05:40 IST

health insurance, IRDAI, insurance cover, insurance premium, loading, exclusions, Covid-19, pandemic, modern treatments, Psychiatric Ailments, Refractive error, endoscopic sinus surgery, Cochlear Implant Treatment

Your Health Insurance coverage widens: Know which modern treatments are now covered

After compelling the insurers to cover the treatment of Covid, insurance regulator IRDAI has now pushed them to cover treatment…

October 19, 2022 20:25 IST

Irdai may permit PE funds to promote insurance firms

Irdai has also proposed to amend the existing regulations to provide “fit and proper criteria” for applicants desiring to carry…

October 15, 2022 05:30 IST

This is the first time Irdai has prescribed premium growth guidelines for individual companies, a move that surprised the industry.

General Insurance Council mediates between insurers, Irdai over ‘aggressive’ growth figures

General insurers said it is an exciting time for the industry as the regulator has initiated many simplification and consolidation…

August 22, 2022 02:30 IST

IRDAI organises hackathon, invites innovative solutions for insurance sector

IRDAI said the participants of Bima Manthan 2022 will get an opportunity to exhibit their innovative solutions before an eminent…

August 15, 2022 18:43 IST

Irdai moots raising maximum limits of insurance tie-ups for corporate agents

Issuing an ‘exposure draft’ on insurance intermediaries, the regulator said in order to facilitate “open architecture”, which will enable prospects…

August 4, 2022 08:12 IST

Irdai issues master guidelines on anti-money laundering in order to consolidate, update guidelines

The guidelines will be applicable to all classes of life, general or health insurance business.

August 3, 2022 03:10 IST

Irdai proposes 30% cap on management expenses

It is proposed that an insurer shall be allowed an additional allowance towards the insurtech expenses incurred to the extent…

August 3, 2022 02:40 IST

Insurers may not need prior Irdai nod to raise capital via pref shares, subordinate debt

As per the existing norms, the insurance companies are required to take permission from the Insurance Regulatory and Development Board…

July 31, 2022 16:23 IST

Edelweiss General Insurance Launches Switch ‘Pay as you Drive’ Add-on, Strengthening its Usage-based Motor Insurance Suite

EGI launched SWITCH 2.0 under the regulator’s sandbox initiative, which measures not just how much you drive, but also how…

July 30, 2022 15:48 IST

In these meetings, Panda reiterated that the reform journey that has been embarked upon is underway and will be completed in a time-bound manner.

Achievability of Irdai target to depend on demand, growth, inflation

This is for the first time that Irdai has prescribed premium growth guidelines for individual companies. It has caused surprise…

July 25, 2022 03:30 IST

Irdai guidelines surprising and challenging: Vibha Padalkar, MD & CEO, HDFC Life

Also, the driving factor is our persistency ratio, which has improved by 200 basis points (bps) on a y-o-y basis…

July 20, 2022 05:55 IST

Irdai panels to suggest steps to resolve issues between insurers and re-insurers

Irdai, in its orders dated July 7, said the two task forces may invite specialists for discussion.

July 12, 2022 03:45 IST

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