Insurance Regulatory and Development Authority (IRDA) has postponed the implementation of health insurance portability to October 1, 2011. Earlier, IRDA had announced that it would implement health insurance portability from July 1, which would allow customers to shift from … [Read more...] about IRDA postponed implementation of health insurance portability to October 1, 2011
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File your insurance complaints online with IRDA’s IGMS
What is IGMS? The Integrated Grievance Management System(IGMS) facilitates online registration of policyholders’ complaints and helps track their status. How do you use IGMS? A policyholder can make optimum use of this system by giving accurate information about the … [Read more...] about File your insurance complaints online with IRDA’s IGMS
IRDA releases draft IPO Guidelines for Life Insurance Companies
IRDA has released a draft IPO guidelines for Life Insurance Companies. When can Life Insurers apply for an IPO? 1. Only on completion of 10 years from the date of commencement of operations by the Insurer or such other period as may be prescribed by the Central Government. 2. … [Read more...] about IRDA releases draft IPO Guidelines for Life Insurance Companies
IRDA imposes penalty of 5 lakhs on Six General Insurers
Insurance Regulator, IRDA, imposed a penalty of Rs 5 lakhs each on six general insurers - National Insurance Company, New India Assurance Company, ICICI Lombard, IFFCO Tokio, Royal Sundaram Alliance and Bajaj Allianz General Insurance Company, for appointing various outfits of … [Read more...] about IRDA imposes penalty of 5 lakhs on Six General Insurers
FAQ on Insurance Agency Licence Exam?
I am life insurance company agent, wants to work for general insurance company. What are the requirements for the same? If the applicant desires to work for a life insurer or a general insurer or both, as the case may be, he should enclose the documentary evidence of the 10 or … [Read more...] about FAQ on Insurance Agency Licence Exam?
Edelweiss Tokio Life Insurance gets R3 approval from IRDA
Edelweiss Tokio Life Insurance Company Limited got its final stage R3 (Certificate of Registration) clearance from the Insurance Regulatory & Development Authority (IRDA) in order to operate in the Life Insurance space. Earlier, the Insurance Regulatory & Development … [Read more...] about Edelweiss Tokio Life Insurance gets R3 approval from IRDA
Private general insurers registered 22% growth in new premium income in FY2010-11
General Insurance Industry growth has registered an increase of 21% in new premium income to Rs.42,568 crore in FY 2010-11. The total premium for the entire private sector life insurance industry is pegged at Rs.17,566 crore in FY 2010-11. PSU General insurer’s first year … [Read more...] about Private general insurers registered 22% growth in new premium income in FY2010-11
Private life insurance sector saw a decline of four per cent in first year premium income in FY 2010-11
As per Analysis of IRDA First Year Premium Income Report on the private life insurance sector saw a decline of four per cent to Rs 30,451 crore during the FY 2010-11. As many as 10 companies, of the total 22 private players accounting for 36.8 per cent of the total life … [Read more...] about Private life insurance sector saw a decline of four per cent in first year premium income in FY 2010-11
Third party motor insurance premium rates will increase (upto 68%) from 25th April’2011
Insurance Regulatory and Development Authority (IRDA) released the new premium rate structure for third party motor insurance. The new rates that will be effective from April 25 are expected to impact the commercial transporters more than private individuals. The third party … [Read more...] about Third party motor insurance premium rates will increase (upto 68%) from 25th April’2011
IRDA issues new guidelines on telemarketing and distance mode marketing
IRDA has issued the new guidelines on telemarketing and distance mode marketing, which will come into force from 1st October, 2011. Guidelines on Training of tele-callers and Authorized Verifiers 1. Every tele-caller shall be trained at an institute accredited for … [Read more...] about IRDA issues new guidelines on telemarketing and distance mode marketing