Page 17 - Latest Updates on IRDAI
Individual agents, marketing firms to soon be part of Irdai database
Measure to help curb cases of data duplication
 "Individual agents, marketing firms to soon be part of Irdai database")
Irdai directs LIC to reduce stakes in L&T, ITC to 15% by Dec 2018
The general insurance business grew 31% last year and life insurance 25%
 "Irdai directs LIC to reduce stakes in L&T, ITC to 15% by Dec 2018")
FinMin official Ravi Mittal appointed part-time member on Irdai board
Former finance secretary Sushma Nath is another part-time member on the Irdai board
 "FinMin official Ravi Mittal appointed part-time member on Irdai board")
Irdai tells insurers to put unclaimed money in special fund for elderly
Latest direction is in continuation of Irdai's previous orders regarding unclaimed amounts
 "Irdai tells insurers to put unclaimed money in special fund for elderly")
Insurers should mention exclusions in policies: Irdai
Policy holders should be made fully aware of the benefits of the products being sold to them
 "Insurers should mention exclusions in policies: Irdai")
Settle health policy claim in 30 days or pay interest: Irdai warns insurers
In case of delay, Insurers have to pay interest at bank rate plus 2% on claim amount
 "Settle health policy claim in 30 days or pay interest: Irdai warns insurers")
Irdai directs insurers to comply with Fema rules on options
Insurers need to comply with norms related to pricing, pertaining to put and call options in Fema
Speed up claim settlement process: Irdai to insurance firms
To comply with its previous order on how to deal with delayed intimation of claims
 "Speed up claim settlement process: Irdai to insurance firms")
Irdai defers IndAS execution by 2 yrs
Corporate Affairs ministry laid down the road map for implementation of IndAS for insurance sector
Irdai to alter insurance policy covers for shops and hotels
A working group has been set up to examine the current insurance product structure
Irdai issues new outsourcing guidelines for insurers
Insurers are expected to do all actuarial functions and enterprise-wide risk management in house
Your motor insurance set to get cheaper as Irdai reduces third-party rates
Premium rates for the current financial year are higher than those of the previous year
Irdai unveils online market place for selling policies by insurers
Regulator said companies may offer discounts to customers if their policies are sold online
 "Irdai unveils online market place for selling policies by insurers")
Irdai asks insurers to appoint data security officer by April 30
The guidelines entail data, applications, operating systems and network layers
Truck owners to meet IRDAI in Hyderabad on Monday
There will be no new bookings for taxies and maxi cabs from Monday onwards
 "Truck owners to meet IRDAI in Hyderabad on Monday")
Irdai to ask for segmental reporting of balancesheet
The regulator's concern is that current premiums in group health segment are not justified
Irdai proposes up to 50% hike in motor insurance premium from April 1
No proposal to increase the third party motor insurance premium for small cars
 "Irdai proposes up to 50% hike in motor insurance premium from April 1")
Irdai to form actuary panels for life, general insurers
Tenure fixed for each panel is three years, beginning from April this year
Irdai wants insurers to have 'clear policy' as investors
Insurers have to give their comments by February
Irdai's protection to a few reinsurers riles industry
Implements the controversial guideline allowing first right of refusal to select players
