Page 4 - Latest Updates on IRDAI
Irdai looking for agency to manage its grievance redressal centre
Regulator Irdai is looking for an agency to manage its multi-media grievance redressal centre with a view to address complaints of insured public against insurance companies.
 "Irdai looking for agency to manage its grievance redressal centre")
Govt wants speedy settlement of claims; FM to meet insurers today
FM Sitharaman to meet insurers to discuss easing processes for settling claims
 "Govt wants speedy settlement of claims; FM to meet insurers today")
As Covid-19 vaccination slows down, insurers insist customers take jabs
Only 3.2% of India's population has been fully vaccinated with two shots
 "As Covid-19 vaccination slows down, insurers insist customers take jabs")
Insurance companies seek early implementation of IFRS from govt
Currently, India follows the old solvency standards where insurers have to hold a percentage of reserve as capital.
 "Insurance companies seek early implementation of IFRS from govt")
IRDAI imposes Rs 30 lakh penalty on SBI General Insurance Company
Regulator IRDAI has imposed a penalty of Rs 30 lakh on SBI General Insurance Company for its failure to comply with the third-party motor insurance regulations.
Former Irdai chairman asks insurers to concentrate on prevention of risk
In the first two quarters after the onset of the Covid-19 pandemic, the insurance industry suffered negative growth. But, it bounced back as soon as the economy opened up post the lockdown
 "Former Irdai chairman asks insurers to concentrate on prevention of risk")
Irdai issues guidelines for a standard domestic travel insurance product
Rollout on July 1, five plans on offer depending on mode of travel
No immediate worry about solvency due to surge in Covid claims: Irdai chief
Irdai Chairman Subhash Chandra Khuntia talks to Subrata Panda on a range of subjects including shareholding of banks in insurance firms
 "No immediate worry about solvency due to surge in Covid claims: Irdai chief")
Irdai allows insurers to invest in debt instruments of InvITS and REITS
Securities should not be rated below 'AA' under the "approved investment" category. In case the instrument is subsequently downgraded, it will be part of "other investments"
 "Irdai allows insurers to invest in debt instruments of InvITS and REITS")
Irdai slaps Rs 51 lakh fine on four insurers for violation of norms
Regulator Irdai has imposed a penalty of Rs 51 lakh on four insurers, including SBI General Insurance Company, for violation of certain norms related to motor insurance.
 "Irdai slaps Rs 51 lakh fine on four insurers for violation of norms")
IRDAI proposes regulations for designing, pricing of insurance products
Regulator IRDAI on Monday came out with draft regulations for the designing and pricing of general insurance products with a view to protecting the interest of policyholders.
 "IRDAI proposes regulations for designing, pricing of insurance products")
Irdai brings draft rules for general insurers on product design, pricing
The regulator has asked all stakeholders to give their views on the draft guidelines before April 26
Irdai asks insurance companies to register message template with telcos
Irdai said, the new framework by the telecom regulator is to enable policyholder protection
 "Irdai asks insurance companies to register message template with telcos")
Irdai extends timeline for sale and renewal of Covid specific products
Earlier, insurance companies were allowed to offer these policies till March 31, 2021
 "Irdai extends timeline for sale and renewal of Covid specific products")
Health insurance claim rejection: Insurers may turn more cautious
Onus may now shift to them to justify rejection after Irdai's circular
Insurers cannot reject claims based on presumptions and conjectures: Irdai
Insurers need to put in place systems by which policyholders can track the status of claims, says regulator
 "Insurers cannot reject claims based on presumptions and conjectures: Irdai")
Irdai nudges insurers to facilitate immunisation for policyholders
Irdai on Friday directed insurers to make special arrangements to facilitate inoculation of the eligible people at government or private hospitals
 "Irdai nudges insurers to facilitate immunisation for policyholders")
Irdai asks insurers to facilitate Covid vaccination of policyholders
The regulator said insurers may create awareness among policyholders about vaccination through effective communication via SMS or email
 "Irdai asks insurers to facilitate Covid vaccination of policyholders")
Remote working to push demand for cyber insurance: IRDAI official
Insurers are confronting a new reality in the COVID-19 situation as a long- term disruption to the customers, employees, investors and suppliers
 "Remote working to push demand for cyber insurance: IRDAI official")
Covid-19 impact on claims may force insurers to review prices: Irdai exec
General and standalone health insurers have received 938,640 claims related to Covid-19 till March 15, says Suresh Mathur
 "Covid-19 impact on claims may force insurers to review prices: Irdai exec")
