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Following the November 8-9 demonetisation, the government over the weekend asked public sector insurers to provide discounts of up to 10 per cent on the premium amount for general insurance policies and 8 per cent in new life policies of Life Insurance Corporation sold online.

Irdai gets 5 applications for non-life, reinsurance business

Irdai has not received application from any new life insurance company so far.

13 Oct 2017 8:15 PM IST

The company will leverage SBIs sole branch in that country to service its products and tie-up with local banks later.

SBI Life to open Bahrain branch by December

Company has received the requisite approvals from the Central Bank of Bahrain and the Indian regulator IRDAI.

8 Oct 2017 11:35 AM IST

Health insurance is not just another tax-saving header. It is a necessity. If you are without a health cover today, you are taking a risk. A sudden hospitalisation can be potentially worth lakhs of rupees.

Reliance Health Insurance gets final nod from Irdai to start...

Shares of Reliance Capital were trading 1.36 per cent higher at Rs 272.70 apiece on BSE.

5 Oct 2018 11:51 AM IST

Following the November 8-9 demonetisation, the government over the weekend asked public sector insurers to provide discounts of up to 10 per cent on the premium amount for general insurance policies and 8 per cent in new life policies of Life Insurance Corporation sold online.

Rs 15,167 crore policies lie unclaimed: Irdai

Insurance regulator Irdai has already asked insurers to take steps to identify the policyholders or beneficiaries and...

30 July 2018 12:46 AM IST

Visiting Venezuelan Foreign Minister Jorge Arreaza said in New Delhi on Monday that Venezuela wants trade with India in oil and other commodities such as food and medicines to be conducted in Indian Rupees and not in US Dollars. (Representational image)

Rs 15,167 crore unclaimed money of policyholders lying with insurers

The insurers have to update information regarding unclaimed amounts on their websites on half-yearly basis.

29 July 2018 12:21 PM IST

The board meeting took place a day after LIC got approval of its board to increase its stake in the bank up to 51 per cent.

IDBI Bank seeks Centre's nod to sell stake to LIC

Irdai has already given its approval to the insurer for the stake purchase.

18 July 2018 5:47 AM IST

The Reserve Bank last month put IDBI Bank under watch by initiating Prompt Corrective Action against it.

LIC board approves acquisition of up to 51 per cent stake in IDBI Bank

Insurance regulator Irdai has already given its approval to the insurer for the stake purchase.

16 July 2018 2:28 PM IST

Acting tough on those violating emission norms, Irdai has said vehicles without a valid Pollution Under Control (PUC) certificate will not be insured.

No vehicle insurance without PUC certificate: Irdai

Irdai in a notification has directed all general insurance companies not to insure a vehicle unless it has a valid PUC...

9 July 2018 4:59 PM IST

A top IRDAI source told Financial Chronicle that the meeting was held in Hyderabad on February 19 and it was attended by 26 chairmen of both life and non-life insurance companies.

Travel insurance cover can't be default option: Regulator

The move aims at checking mis-selling of travel insurance through online ticket booking portals and apps.

2 Oct 2019 1:38 AM IST

The insurance industry would need to have free access to the data generated by multiple sources including telematics, on-board diagnostic (OBD) devices, and adaptive cruise control (ACC) fill this void by monitoring vehicles in real-time through the use of sensors.

Use telematics to price motor policies: IRDAI

Premium may be linked to driving, social behaviour.

28 Nov 2019 1:42 AM IST

In case of certain claims, insurance companies can now entrust loss assessment to people other than licensed surveyors or not make any loss assessment at all. This can make processing of claims faster, especially during times of calamities.

Surveyor assessment waived in some cases

In case normal commercial claims below a certain claim amount, we do not do an assessment.

20 Nov 2019 3:23 AM IST

Solvency ratio is a key metric used to determine the ability of an insurer to meet its debt, pay claims and honour other financial commitments.

Reliance Health barred from selling policies

Solvency ratio dips to 63% against norm of 150%.

8 Nov 2019 6:26 AM IST