Regulation

Subhash C Khuntia,chairman, Irdai

IRDA to unveil standard Term Policy and covers for MSME and small dwellings soon:Khuntia 

Indian News       Sep 17, 2020

  New Delhi: In  a bid to push the insurance penetration further in the country, the Insurance Regulatory and Development Authority of India (Irdai) has decided to enlarge its basket of existing standard products by launching solutions for MSMEs,small dwellings and a standard term plan. The ...

Varun Dua, Founder and CEO, ACKO

Munich Re Ventures invests $60mn in digital insurer ACKO

Indian News       Sep 16, 2020

Bengaluru: Home-grown digital-native insurer ACKO on Wednesday said it had raised $60 million (approximately Rs 441 crore) in a round of funding led by Munich Re Ventures,the investment arm of the global reinsurer Munich Re. Existing investors Amazon, RPS Ventures and Intact Ventures Inc.also participated...

China’s Anbang Insurance Group to apply to disband, liquidate

International News       Sep 15, 2020

  BEIJING: China’s Anbang Insurance Group said on Monday that it will apply to the country’s banking and insurance regulator to disband and liquidate the company, a step towards the official end of the once high-flying conglomerate. The government took control of Anbang in February 2018...

T.L. Alamelu,member (Non-Life),IRDA

IRDAI plans broad basing exclusive Carona covers, moots digital health insurance claim platform:Alamelu

Indian News       Sep 11, 2020

  Hyderabad: TL Alamelu,member (Non-Life),IRDAI, has said the the recently launched standardised Covid-specific health insurance policies Corona Kavach and Corona Rakshak have become effective and the regulator would like to convert these segmented products into a full-fleged health insurance policy by adding other features. . “We...

General insurers can issue e-policies till March,2021:IRDAI

Indian News       Sep 10, 2020

  Hyderabad: In the wake of Covid-19 pandemic, the insurance regulator IRDAI has granted  exemption , to the general insurers, till March, 2021  from issuing  insurance policies in physical format.  Insurers are also allowed to obtain the customer’s consent without requiring wet signature on the hard...

RBI in process of constructing digital payment index to assess extent of digitisation: Exec director

Indian News       Sep 09, 2020

Mumbai: The Reserve Bank of India (RBI) is in the process of constructing a digital payment index to assess the extent of digitisation in the country and innovation in existing modes and channels to bridge digital divide, a senior official of the apex bank said...

Don't stop us paying dividends, European insurers tell regulators

International News       Sep 08, 2020

LONDON: Global regulators should not ban insurers from paying dividends as a result of COVID-19 and should give firms more time to report their capital positions, European insurers said on Monday. The pandemic will likely lead to between $50 and $100 billion in losses for...

IRDA allows wide-ranging incentives by insurers to promote wellness and affordable health insurance

Indian News       Sep 04, 2020

  Hyderabad: The insurance regulator IRDAI, on Friday, has allowed insurers a wide-ranging of features,which can be offered by them as incentives, to their policyholders to promote wellness and affordable health insurance. As part of promoting wellness and preventive regime, insurers can offer reward points to...

Revised Weinstein settlement draws opposition from accusers

International News       Sep 02, 2020

  Lawyers for Harvey Weinstein’s bankrupt film studio on Wednesday presented a revised proposal to settle sexual misconduct claims against the disgraced former producer, but an attorney for accusers pledged to oppose the plan. The $35.2 million proposal filed on Tuesday in the U.S. Bankruptcy Court...

IRDA forms panel to examine relaunching of Index-linked products by life insurers

Indian News       Sep 01, 2020

  Hyderabad: The insurance regulator IRDAI, on Tuesday, has formed a working group(WG), to be led by Dinesh Pant, appointed actuary of Life Insurance Corporation(LIC), to examine various aspects of Index Linked products in life Insurance segment Currently, IRDAI, product regulations do not specifically permit insurers...

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