IRDAI

IRDAI streamlines policyholder safety norms with a grasp round

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The Insurance coverage Regulatory and Growth Authority of India (IRDAI) has streamlined norms on the safety of policyholders’ pursuits by repealing 30 completely different circulars and issuing a Grasp Round. The Grasp Round on Safety of Policyholders’ Pursuits underneath the IRDAI (safety of policyholders’ pursuits, operations, and allied issues of insurers) Laws, combines policyholder entitlements right into … Read more

LIC knocks IRDAI doorways for overview of Give up Worth Pointers

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Insurance coverage behemoth LIC is known to have approached insurance coverage regulator IRDAI, in search of a overview of ultimate Give up Worth Pointers issued in June 2024. These ultimate pointers had been policyholder pleasant because it elevated the give up worth considerably from earlier 30 per cent to over 70 per cent, stated insurance … Read more

Insurance coverage Question: Porting Well being Insurance coverage Coverage

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I presently have a medical insurance coverage with a sum insured of ₹15 lakh. Nonetheless, my yearly premium has considerably elevated attributable to a value hike from my present insurance coverage firm. Consequently, I’m contemplating porting my coverage to a different insurer. May you please information me by means of the method of porting my … Read more

SBI Common Insurance coverage, HSBC India in bancassurance tie-up

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SBI Common Insurance coverage Firm Restricted (SBI Common Insurance coverage) and HSBC India have entered right into a bancassurance partnership for the distribution of non-life insurance coverage merchandise by latter’s community. This partnership represents a major step in direction of offering accessible and complete insurance coverage options, serving to enhance insurance coverage penetration within the … Read more

Bancassurance, the important thing to common protection

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Bancassurance is often thought of “win-win” for a financial institution and an insurance coverage firm as they enter right into a tie-up for distribution of insurance coverage merchandise. However, if an unlimited part of the beforehand uninsured inhabitants can get insurance coverage cowl by means of this channel, the state of affairs turns into “win-win-win”. … Read more

IRDAI asks insurers to open extra bricks-and-mortar branches

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The Insurance coverage Regulatory and Growth Authority of India (IRDAI) has requested insurers to open extra bricks-and-mortar branches alongside stepping up digital choices.  “Bodily presence via brick-and-mortar places of work leads a good distance in gaining buyer confidence significantly in distant areas of the nation. Adoption of expertise infrastructure to succeed in out to prospects … Read more

‘Pay as you employ’: Car homeowners can now go for customised motor insurance coverage insurance policies

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Car homeowners can now go for customised motor insurance coverage cowl that may incentivise wholesome and secure driving habits together with a wider alternative of merchandise of normal insurance coverage. In its new grasp round on normal insurance coverage enterprise issued on Tuesday, the Insurance coverage Regulatory and Growth Authority of India (IRDAI) has directed normal insurers to offer … Read more

IRDAI reduces audit agency time period to bolster audit high quality

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Insurance coverage regulator IRDAI’s new company governance pointers have lowered the engagement interval of statutory auditors with insurance coverage corporations. Audit corporations now have a four-year time period for joint statutory audits, adopted by a compulsory three-year cooling-off interval, based on the IRDAI’s Grasp Round on ‘Company Governance for Insurers 2024’. Additionally learn:IRDAI brings life, … Read more

IRDAI reduces audit agency time period to bolster audit high quality

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Insurance coverage regulator IRDAI’s new company governance pointers have diminished the engagement interval of statutory auditors with insurance coverage corporations. Audit corporations now have a four-year time period for joint statutory audits, adopted by a compulsory three-year cooling-off interval, based on the IRDAI’s Grasp Round on ‘Company Governance for Insurers 2024’. Throughout this cooling-off interval, … Read more

IRDAI extends life, medical insurance cowl to Gram Panchayats

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In a transfer that may carry insurance coverage all the way down to the grassroots, the Insurance coverage Regulatory and Improvement Authority of India (IRDAI) has mandated life and common insurers to increase cowl to sure recognized Gram Panchayats. Per the grasp round points by the regulator on rural, social and motor third celebration obligations, the … Read more