Page 11 - Latest Updates on IRDAI
Centre likely to rework NHAI financing plans amid Covid-19 crisis
A committee, under the chairmanship of Nilesh Sathe, former member of the Insurance Regulatory and Development Authority of India (IRDAI), has been set up.
 "Centre likely to rework NHAI financing plans amid Covid-19 crisis")
Opting for EMI on health insurance premiums? You may end up paying more
This is because insurers are levying a nodal charge of 3-4 per cent on premium paid through instalment
 "Opting for EMI on health insurance premiums? You may end up paying more")
Term insurance: Premium rates lower at younger age, don't change thereafter
As your liabilities increase, you will not have to augment your cover at a later date
 "Term insurance: Premium rates lower at younger age, don't change thereafter")
Arogya Sanjeevani: A straightforward, reasonably priced health plan
If you already have an insurance policy, opt for super top-up to enhance the sum assured
 "Arogya Sanjeevani: A straightforward, reasonably priced health plan")
Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more
Here are the top 10 headlines on Thursday morning
 "Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more")
Irdai allows PNB to hold more than 10% promoter stake in 2 insurance firms
The insurance regulator has allowed PNB to keep its shareholding in both the insurance companies intact for now
 "Irdai allows PNB to hold more than 10% promoter stake in 2 insurance firms")
Revised inter-creditor pacts may do away with need for 66% lenders' nod
Banks will be able to customise ICAs in accordance with their needs even as more financial stakeholders are on-boarded, including those with foreign currency exposures
 "Revised inter-creditor pacts may do away with need for 66% lenders' nod")
Banks, financial cos must be allowed to avail credit insurance: Irdai group
Trade credit insurance covers a seller against the risk of non-payment by its customers arising due to willful default or insolvency
 "Banks, financial cos must be allowed to avail credit insurance: Irdai group")
Regular health insurance policies cover Covid-19, says Irdai chairman
IRDAI has received an overwhelming response to the Regulatory Sandbox initiative which is a mechanism created to foster innovation in insurance sector
 "Regular health insurance policies cover Covid-19, says Irdai chairman")
How the insurance sector is likely to pan out in the post Covid-19 scenario
The pandemic seems to be following the trajectory of the Great Depression for Indian insurance sector, which will be among the few that could do well coming out of the impact of coronavirus
 "How the insurance sector is likely to pan out in the post Covid-19 scenario")
Covid-19 impact: Sebi may tweak pay structure of top MF executives
Caps on variable pay, staggered bonus payouts among likely steps to rein in risky moves by fund managers
 "Covid-19 impact: Sebi may tweak pay structure of top MF executives")
Help policyholders get uninterrupted coverage: Irdai to general insurers
The non-life insurers decided to give a one-time relaxation to policyholders whose property has remained un-occupied and who are at risk of losing their coverage due to lockdown
Life insurance companies register 11.36% growth in premium income in FY20
The 24 life insurance companies' collective premium income stood at Rs 43.33 trillion during fiscal year 2018-19
 "Life insurance companies register 11.36% growth in premium income in FY20")
Link motor third-party obligation to number of uninsured vehicles: Irdai
Currently, the motor third party obligation is based on the amount of premiums an insurer collects on any given year out of motor third party business.
Covid-19: Irdai directs health insurers to settle claims within two hours
All the insurers shall decide health insurance claims expeditiously, it said in a circular
 "Covid-19: Irdai directs health insurers to settle claims within two hours")
Health insurance premiums set to rise as firms to follow Irdai mandates
The rise in premiums could be in the range of 5-25 per cent, depending on the features that each insurance company adds on its products
Irdai rejects general insurers' call for blanket easing of solvency margins
However, it said specific cases would be considered on merit
Irdai grants exemptions to merged banks on corporate agency matters
Irdai has said the acquiring bank can retain the existing certificate of registration (COR) to act as a corporate agent and surrender the COR's held by the acquired banks
 "Irdai grants exemptions to merged banks on corporate agency matters")
Irdai grants 3-month moratorium on term loans sanctioned by insurers
The RBI had issued directions on March 27, 2020 and asked banks, non-banks to provide moratorium on term loans for a period of three months starting from March 1, 2020
 "Irdai grants 3-month moratorium on term loans sanctioned by insurers")
Life insurance policyholders get 30 days more to pay premium amid lockdown
Irdai has already provided additional time for payment of renewal premium in case of health insurance policies and motor third party insurance.
 "Life insurance policyholders get 30 days more to pay premium amid lockdown")
