IRDAI
News, policy decisions and regulatory analysis involving IRDAI. Tracking 8 stories on Arth Vani.
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Latest on IRDAI
BreakingIRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company for mis-selling a policy to an 88-year-old individual. The regulator found the company guilty of not adhering to fair practices and customer protection norms.
IRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-Selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company. The fine was levied due to instances of policy mis-selling by the insurer.
Indian Insurers Seek IRDAI Nod for Aggregate Equity Derivative Limits for Hedging
Indian insurance companies have formally requested the IRDAI to allow them to aggregate investment limits for equity derivatives used for hedging. This move aims to provide insurers greater flexibility in managing their portfolios and mitigating market risks more efficiently. If approved, it could enhance risk management capabilities for policyholder funds.
IRDAI Fines ICICI Lombard ₹1 Crore for Outsourcing, Vendor Management Lapses
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on ICICI Lombard General Insurance Company. The fine was levied due to deficiencies found in the insurer's outsourcing and vendor management practices.
BreakingHealth Insurance: Use Public Disclosures to Pick the Right Policy
Choosing the right health insurance goes beyond just premiums. Consumers can leverage publicly available data, such as Claim Settlement Ratios and grievance records, to assess an insurer's reliability and customer service. This proactive approach helps in making an informed decision, ensuring peace of mind during medical emergencies.
BreakingIRDAI Directs Insurers to Fast-Track Assam Flood Claims; Special Desks, Helplines Setup
India's insurance regulator, IRDAI, has instructed all insurance companies to expedite the settlement of flood claims for policyholders affected by the recent deluge in Assam. This directive mandates immediate deployment of surveyors, establishment of dedicated district-level claims desks, and 24x7 helplines to streamline the process. The move follows extensive flooding and heavy rainfall across Assam, which began on July 19.
New Top Brass at IRDAI: Key Appointments to Shape India's Insurance Future
The Indian government has announced major leadership changes at the insurance regulator IRDAI, appointing experts from LIC and New India Assurance. These new members will oversee critical functions like policy distribution and actuarial standards, directly impacting how insurance products are designed and sold to you.
IRDAI Proposes Simpler Rules to Attract Global Investors and Streamline Insurance
The insurance regulator is looking to relax ownership norms to make it easier for new players to enter the Indian market. These changes could lead to more competition, diverse products, and simpler corporate structures for insurance companies.
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