One out of every four people do not think that life insurance is important, reveals an IRDA sponsored study. Salient Points of Study 1. The study also suggested that private sector and the government should work together in Public-Private Partnership (PPP) mode to enhance … [Read more...] about IRDA Study : One out of every four people don't think that life insurance is important
Irda
IRDA : Dismantling of existing Indian Motor Third Party Pool
The Insurance Regulatory and Development Authority has created a Motor Third Party Declined Risk Insurance Pool. It provides mandatory third party cover for commercial vehicles. The existing motor third party pool will be dismantled with effect from March 31, 2012. The motor … [Read more...] about IRDA : Dismantling of existing Indian Motor Third Party Pool
Irda issues IPO norms for Life Insurers
Insurance Regulatory and Development Authority (IRDA) has came out with guidelines allowing life insurance companies, which have been in business for over 10 years, to raise funds from the public through IPOs. Some Points: 1- No life insurer can approach market regulator … [Read more...] about Irda issues IPO norms for Life Insurers
IRDA launches mobile website for comparing insurance products
The Insurance Regulatory and Development Authority has introduced mobile applications on Android, iPhone, Nokia and Blackberry platforms and a wap site that enables users to compare insurance products and premium rates. The application currently lets users of mobile … [Read more...] about IRDA launches mobile website for comparing insurance products
IRDA tightens rules for online insurance aggregators
The Insurance Regulatory and Development Authority (IRDA) has tightened rules for Web sites and portals vending insurance products. These new Guidelines shall apply with effect from 1st February, 2012. At present, there are no standards or rules for these sites (also known as … [Read more...] about IRDA tightens rules for online insurance aggregators
IRDA : Disclose Pension Maturity Benefits Upfront
Insurance regulator Insurance Regulatory and Development Authority (IRDA) has asked all insurers, selling pension products, to disclose in the policy document maturity benefits, a move that will make it easier for individuals to opt for the best policy as per their needs. IRDA … [Read more...] about IRDA : Disclose Pension Maturity Benefits Upfront
Videocon Liberty Mutual General Insurance gets IRDA approval
The Insurance Regulatory and Development Authority has given approval to the Videocon Group's general insurance joint venture with the US-based Liberty Mutual Group. Liberty Mutual will hold a 26 per cent stake in the JV with Videocon holding the remaining stake 74 percent. … [Read more...] about Videocon Liberty Mutual General Insurance gets IRDA approval
IRDA : Ulip holders to get interest if they discontinue policies
Holders of unit-linked policies who discontinue their policies mid-way shall get a minimum guaranteed interest at par with SBI savings bank account rates, regulator IRDA said. Changing the rules, the Insurance Regulatory and Development Authority (IRDA) also asked the life … [Read more...] about IRDA : Ulip holders to get interest if they discontinue policies
IRDA – PAN must for payment of premium above Rs. 50,000 in cash
Insurance Regulatory and Development Authority (IRDA) said that quoting PAN number would be mandatory for making cash payments of more than Rs 50,000 in insurance premium from November 1st 2011. Acceptance Stage To ensuring that premiums are paid out of clearly identifiable … [Read more...] about IRDA – PAN must for payment of premium above Rs. 50,000 in cash
IRDA fined HDFC Life for non settlement of death claim
The Insurance Regulatory and Development Authority (IRDA) has imposed a penalty of Rs 5 lakh on HDFC Standard Life Insurance Company for violating norms on claim settlements and has also asked the insurer to streamline its processes. The order was issued on a complaint filed … [Read more...] about IRDA fined HDFC Life for non settlement of death claim