Page 8 - Latest Updates on IRDAI
Saral Jeevan Beema for Bharat: Irdai introduces standard life product
All insurers to offer the product from January 1, 2020
 "Saral Jeevan Beema for Bharat: Irdai introduces standard life product")
Need to have more disease-specific health insurance products: Irdai
Irdai Chairman Subhash Khuntia has urged health insurance providers to develop disease-specific products which could help policy holders in preventing different ailments
 "Need to have more disease-specific health insurance products: Irdai")
Irdai allows renewal, migration and porting of Covid specific policies
The Indian insurance regulator has allowed renewal, migration and portability of Covid-19 specific standard health insurance policies -- Corona Kavach, Corona Rakshak and Group Corona Kavach Policy
Don't impose 15-day waiting period for Corona Kavach renewal: IRDAI
As per the guidelines issued by the IRDAI, the short-term Corona Kavach policies are issued by insurance companies for three-and-a-half months, six-and-a-half months or nine-and-a-half-months
 "Don't impose 15-day waiting period for Corona Kavach renewal: IRDAI")
Irdai allows renewal, migration and portability of Covid-specific products
Renewal subject to insurer's underwriting policy, must be done before expiry of existing policy contract
 "Irdai allows renewal, migration and portability of Covid-specific products")
Regulators hand out more tools to customers for decoding financial products
Sebi's new risk-o-meter and Irdai's proposed colour coding of health insurance plans will enable buyers to make more informed choices
 "Regulators hand out more tools to customers for decoding financial products")
Irdai to start colour coding of individual health plans based on complexity
The regulator has sought comments from all stakeholders on the matter by October 15
Choosing a suitable health plan to become easier with standardised norms
Uniform policy wordings will reduce ambiguity and allow buyers to understand key policy features better
IRDAI group tables broad framework for insurance cover to drone industry
The panel noted that the drone ecosystem is in nascent stages in India and finding more usage/applications in various sectors at a slower pace
 "IRDAI group tables broad framework for insurance cover to drone industry")
LIC, GIC, New India Assurance systemically important insurers: IRDAI
The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, IRDAI said in a statement
 "LIC, GIC, New India Assurance systemically important insurers: IRDAI")
Do your research well before buying a life insurance plan for the long run
Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.
 "Do your research well before buying a life insurance plan for the long run")
Top headlines: Vodafone wins case against govt, Harley in talks with Hero
From Vodafone International winning arbitration case against govt to Election Commission announcing Bihar poll dates, Business Standard bring you top news of the evening
 "Top headlines: Vodafone wins case against govt, Harley in talks with Hero")
Irdai says LIC, GIC Re, New India are too big to fail, need more control
The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture
 "Irdai says LIC, GIC Re, New India are too big to fail, need more control")
Covid-19: Irdai permits life, general insurers to conduct video-based KYC
The objective of the VIBP, Irdai said, is to leverage various electronic platforms to simplify KYC process and make it customer-friendly
 "Covid-19: Irdai permits life, general insurers to conduct video-based KYC")
Irdai panel recommends forming Rs 75,000 cr pandemic pool under PPP model
The group has recommended coverage for 40-50 million MSME workers initially
Irdai to take decision on extending tenure of Covid-19 products: Chairman
Regulator Irdai is mulling over a plan to allow the tenure extension of Covid-19 specific insurance products as the vaccine for the disease is seemingly away, its chairman Subhash C Khuntia said
 "Irdai to take decision on extending tenure of Covid-19 products: Chairman")
Irdai to develop standardised products for bridging protection gap
Life Insurers must aim to achieve a 13th month persistency of 90% within a year, says Irdai chairman
 "Irdai to develop standardised products for bridging protection gap")
Digital health plan may make insurance products cheaper: Irdai member
Health insurance products calculated based on historical data will get better information, says T L Alamelu
 "Digital health plan may make insurance products cheaper: Irdai member")
Health insurance: Irdai issues guidelines on wellness, preventive measures
Steps shall help achieve the desired objective of maintaining and improving good health and enabling affordable health insurance
Insurers can offer wellness coupons, reward points to policyholders: Irdai
Regulator Irdai on Friday came out with fresh guidelines for wellness and preventive features under which insurers can offer discount coupons and vouchers for health supplements and yoga centres
 "Insurers can offer wellness coupons, reward points to policyholders: Irdai")
