Page 3 - Latest Updates on IRDAI
Life insurers' new business premium spikes 42% at Rs 27,177 cr in Nov
Profitability a worry with excess reserves on balance sheet for Covid claims
 "Life insurers' new business premium spikes 42% at Rs 27,177 cr in Nov")
New premium income of life insurers up 42% at Rs 27,177 cr in Nov: Irdai
The new premium income of life insurance companies jumped by nearly 42 per cent to Rs 27,177.26 crore in November this year, data from Irdai showed on Tuesday.
 "New premium income of life insurers up 42% at Rs 27,177 cr in Nov: Irdai")
'Have health-care watchdog or let us regulate it,' says Irdai member
The insurance regulator is keeping an eye on hikes in premiums, said Alamelu T L, member (non-life), Irdai
 "'Have health-care watchdog or let us regulate it,' says Irdai member")
Soon, regular yoga will get you a discount on your insurance premium
Irdai set to allow wellness programme along with life plans; policyholders participation voluntary
IRDAI needs young CEO, abolish licence permit raj: Experts
Insurance sector wherein licence permit raj is abolished and the sectoral regulator is headed by a dynamic young person to increase insurance penetration, said a senior industry official
 "IRDAI needs young CEO, abolish licence permit raj: Experts")
IRDAI, Banks Board Bureau in the dock on promotions in insurance sector
All is not well in the government insurance sector with regard to elevation of officials, it seems.
 "IRDAI, Banks Board Bureau in the dock on promotions in insurance sector")
No plans to bring standard products for cyber liability insurance: Irdai
Irdai has no plans to bring standard products for cyber liability insurance policy as of now, a senior Irdai member said on Thursday.
 "No plans to bring standard products for cyber liability insurance: Irdai")
Covid insurance makes sense if you have a comprehensive policy: Experts
Especially if sum insured is small, at say Rs 5-7 lakh for the family
 "Covid insurance makes sense if you have a comprehensive policy: Experts")
Amid rise in cybercrimes, a cyber risk insurance can cut your losses
But also buy a comprehensive antivirus software
 "Amid rise in cybercrimes, a cyber risk insurance can cut your losses")
Madras HC withdraws its order on bumper-to-bumper insurance cover
The judge hoped and trusted the lawmakers would look into this aspect and examine the need for suitable amendment in the Act relating to wide coverage of vehicles so as to protect the innocent victims
 "Madras HC withdraws its order on bumper-to-bumper insurance cover")
IRDAI permits insurers to sell short-term Covid policies till Mar 2022
Regulator IRDAI on Monday allowed insurers to continue selling and renewing short-term Covid specific health insurance policies till March 2022.
Irdai extends last date for sale of Covid plans till March 31, 2022
Earlier, in March this year, the regulator decided to extend the timeline for the sale and renewal of such policies till September, looking at the prevailing situation
Irdai issues draft rules for promoting and regulating surety insurance biz
A general insurer can start a surety business if it has 1.25x the solvency margin; but if solvency goes below the required level, insurer will stop underwriting new business
Drone use, satellite imagery for agriculture insurance may be a must
Govt, Irdai considering using artificial intelligence to control fraud claims, cut delays in settlement
 "Drone use, satellite imagery for agriculture insurance may be a must")
Attractive though they are, scrutinise costs before you invest in Ulips
After the recent run up in equity markets, it would be prudent to opt for a mix of equity and debt funds
 "Attractive though they are, scrutinise costs before you invest in Ulips")
Delay in third-party premium hike hurting balance sheets: Insurers
The insurance regulator had proposed a hike in third-party premium for FY21 but it was put on hold to provide relief to policyholders during the pandemic
FDI for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt
Foreign direct investment in an insurance company promoted by a private bank will be cleared by the RBI and Irdai to ensure that the 74 per cent limit of overseas investment is not breached, govt said
 "FDI for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt")
Irdai should monitor life insurers' expense management only: Deepak Parekh
Allowing life insurers to distribute health indemnity and NPS products will improve the insurance reach, Parekh said
 "Irdai should monitor life insurers' expense management only: Deepak Parekh")
Govt moves Irdai to allow listing of 'corporation' ahead of LIC's IPO
This comes ahead of listing of LIC as India's largest IPO
 "Govt moves Irdai to allow listing of 'corporation' ahead of LIC's IPO")
IRDAI allows home treatment as add-on cover in health insurance
Norms for settlement of claims should be mentioned in the policy document and prospectus: IRDAI
 "IRDAI allows home treatment as add-on cover in health insurance")
