Page 2 - Irdai Insurance Companies

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5 per cent to 4 per cent for FY23. The impact of the reduction on GIC Re would be around Rs 2,000 crore

Irdai wants life insurance firms to eye 50% premium growth in 5 years

Irdai extended the "use & file" procedure to most life insurance products, barring individual savings, individual pensions, and annuity products

Irdai says no decision on mandatory disclosure of insurance commissions

Irdai said it regulator intends to hold discussions on the matter before a decision

Want a lower motor insurance premium? Watch how (often) you drive

Floater policies will be cost-effective, provide convenience of renewal at one go for multiple vehicles

Online players, agents may have to disclose insurance commission

IRDAI is considering a proposal that seeks to have a single limit for expenses made by insurance companies

Now, life insurers can introduce products without Irdai's prior approval

Currently, all life insurance products and riders require prior approval of the insurance regulator before launch

Irdai fines Deinon Risk Rs 10 lakh for acting as insurance intermediary

The firm did not have a valid registration with the insurance regulator

Irdai should monitor life insurers' expense management only: Deepak Parekh

Allowing life insurers to distribute health indemnity and NPS products will improve the insurance reach, Parekh said

Do your research well before buying a life insurance plan for the long run

Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.

Nearly 70k Covid-related claims worth Rs 700 cr settled by insurers: Irdai

Regulator asks insurers to look at more standard products to increase the coverage

Irdai issues guidelines for standardisation of indemnity health products

Policyholders can cancel their policies at any time by giving a 15 days' notice to the insurer and the company has to refund premium for the unexpired policy period

SBI Life, ICICI Pru Life to enter MSCI India index. What should you do?

SBI Life touched a life-time high of Rs 1,030 per share on October 30, 2019, while ICICI Pru Life hit a record high on November 8, 2019.

Irdai asks insurers to give details on exposure to DHFL, IL&FS, ADAG

All the four entities, for which data was sought by Irdai on October 9, have been downgraded by credit rating agencies recently

Merger delays impact business decisions at government insurance firms

Companies post huge losses and market share

Cap on dealer commissions unlikely to lead to change in premiums

General insurers, however, look to move towards risk-based pricing