Insurance cos settled 90% claims made after HudHud: IRDA
Insurance companies have settled almost 90 percent of over Rs 2,700 crore claims made after 'Hudhud' cyclone in Visakhapatnam last year, a senior Insurance Regulatory and Development Authority of India official said on Thursday.
Feb 05, 2015, 18:02 PM IST
Insurance regulator mulls no fee for change in nomination
Observing policyholders' right to effect changes in nomination, sectoral regulator IRDA is proposing to do away with the practice of charging fee for such alterations by life insurance companies.
Jan 25, 2015, 11:13 AM IST
IRDA evaluating fresh norms for banks as insurance agents
Insurance sector regulator IRDA is evaluating fresh norms for banks to act as intermediaries for insurers, following recent changes in law brought through an ordinance by the government.
Jan 18, 2015, 17:14 PM IST
Life insurance policy holders may get 15% cut in premiums
Life insurance policy holders, who opt for electronic format of policy, may now get a 10-15 percent reduction in their premiums as IRDA has revised guidelines with regard to repositories and dematerialisation.
Jan 16, 2015, 21:23 PM IST
RBI permits banks to act as insurance brokers
Seeking to increase insurance penetration in the country, the Reserve Bank on Thursday allowed banks to act as brokers for insurers, set up their own subsidiaries and also undertake referral services for multiple companies.
Jan 15, 2015, 21:01 PM IST
RBI allows banks to act as insurance brokers
The Reserve Bank on Thursday allowed banks to act as insurance brokers.
Jan 15, 2015, 20:44 PM IST
Norms tightened for appointment of agents by insurers
Under the newly promulgated Ordinance, insurers cannot appoint any "principal agent, chief agent and special agent", neither they can transact any insurance business through them.
Jan 04, 2015, 16:43 PM IST
Irda modifies group life insurance schemes for fincl entities
IRDA on Monday clarified that under lender-borrower scheme life insurance companies will make payment of outstanding loan to lenders in case of eventuality to an individual covered under the group insurance scheme.
Dec 29, 2014, 22:01 PM IST
Clearly mention conditions, benefits of insurance products: IRDA
To help consumers guard against bogus claims being made by insurers, sector regulator IRDA has said the companies will have to clearly define conditions along with benefits and riders of products to customers.
Dec 28, 2014, 14:14 PM IST
Customer complaints in general insurance drop by 66% in 5 yrs
The number of complaints dropped to 63,335 in 2013-14 from 1,86,615 in 2009-10, the report released jointly by Insurance Regulatory and Development Authority (Irda) and Consumer Affairs Department said.
Dec 25, 2014, 19:13 PM IST
Aegon Religare expects revenue from new biz to reach Rs 200 cr
"Last year, the total premium in new business was Rs 145 crore. This year we are expecting Rs 200 crore", Aegon Religare Life Insurance Managing Director and CEO K S Gopalakrishnan told reporters here.
Dec 18, 2014, 16:56 PM IST
'Rs 60K-cr investments needed for more insurance penetration'
The domestic insurance industry needs investments worth up to Rs 60,000 crore in next five years to increase the penetration levels substantially from the current 3.9 percent, Insurance Regulatory and Development Authority Chairman, T S Vijayan has said.
Dec 18, 2014, 16:33 PM IST
Common account in works for all financial assets
Financial regulators, including RBI, Sebi and IRDA, are working on creating a common account aggregation facility, which may allow people to get details of all their financial assets in one place.
Dec 11, 2014, 20:15 PM IST
Govt inches closer to raising foreign investment cap in insurance to 49%
The hike in foreign investment limit is estimated to attract about Rs 25,000 crore of overseas funds in the sector.
Dec 10, 2014, 19:07 PM IST
India has potential to be reinsurance hub for SE Asia: Irda
Given its talent pool, India has the potential to become reinsurance hub for South Asian market, Irda Chairman T S Vijayan said Friday.
Dec 05, 2014, 16:44 PM IST
Kotak Group enters general insurance space
Private-sector lender Kotak Mahindra Bank Tuesday announced its entry into the highly fragmented general insurance space, a week after buying out ING Vysya in one of the biggest deals in the country's banking space.
Nov 25, 2014, 17:48 PM IST
Introduce 'Jan Bima Yojna' for insurance: IRDA to Govt
To increase awareness and deepen insurance penetration, Government should launch a 'Jan Bima Yojna' on the lines of a similar programme launched for banking, IRDA Chairman T S Vijayan said on Monday.
Nov 24, 2014, 14:43 PM IST
IRDA wants to enable insurers to fix agency commission
Insurance sector regulator IRDA suggested to the parliamentary panel looking into the Insurance Bill today, to incorporate a provision to give a free hand to insurers to fix the agency commission, which is currently capped at 40 per cent of the first-year premium
Oct 27, 2014, 20:28 PM IST
Growth eludes life insurers except some bank-promoted players
Those having seen growth in individual premiums in first half included ICICI Pru, HDFC Life, Max Life and Kotak Life.
Oct 26, 2014, 14:51 PM IST
'Irda favours lifting cap on agent fees'
Irda chairman T S Vijayan is slated to meet members of Parliamentary panel on Insurance Law (Amendment) Bill here on Monday.
Oct 26, 2014, 12:30 PM IST
