Tag: Insurance Regulatory and Development Authority of India

Ensure all calls are from 1600-series, else face action, IRDAI tells insurers

January 10, 2026 admin

Insurance regulator IRDAI has directed insurers to adopt the 1600-number series for all service and transactional voice calls made by them to consumers by February 15 or face action. Any complaint of unsolicited commercial communication (UCC) against IRDAI regulated entities not complying will attract action as per regulatory provisions of Telecom Regulatory Authority of India…

Business

IRDAI imposes ₹3.39 cr penalty on Star Health Insurance

July 26, 2025 admin

The Insurance Regulatory and Development Authority of India has imposed a penalty of ₹3.39 crore and issued a warning to Star Health and Allied Insurance Company for violations under IRDAI Information & Cyber Security Guidelines, 2023. The regulator, however, did not elaborate on the violations in its July 25th communication. On Saturday (July 26,…

Business

IRDAI’s revised norms for those looking to surrender a life insurance policy: Explained

June 17, 2024 admin

The story so far: The Insurance Regulatory and Development Authority of India (IRDAI) on June 12 introduced provisions that would guarantee a better exit payout for life insurance policy holders unwilling or unable to continue paying for their insurance. Providing higher ‘surrender value,’ or the exit payout, was also discussed in a consultation paper floated…

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People Above 65 Can Also Buy Health Insurance Now

April 20, 2024 admin

Earlier, people were restricted to purchasing new insurance policies only until 65. (Representational) New Delhi: The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from April 1, 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65. However,…

Nation

IRDAI chief asks insurance players to underwrite disruptions to improve market penetration

February 13, 2024 admin

Debasish Panda. File | Photo Credit: The Hindu Insurance players need to underwrite disruptions to make the vision of ‘insurance for all’ a reality by 2047, regulator IRDAI’s chief Debasish Panda said on February 13. The chairman of the Insurance Regulatory and Development Authority of India (IRDAI) also emphasised that the approach of ‘one-size-fits-all’ has…

Business

Bancassurance channel | IRDAI constitutes taskforce to review model, carry out modifications

November 1, 2023 admin

IRDAI has constituted a taskforce on the Bancassurance channel for the distribution of insurance policies through banks. Insurance Regulatory and Development Authority of India (IRDAI) has constituted a taskforce on the Bancassurance channel for the distribution of insurance policies through banks with an objective to review the model and carry out modifications if required. Citing…

Business

Expedite survey, claim settlement related to Sikkim floods, IRDAI urges general insurers

October 19, 2023 admin

Indian Army personnel look for dead bodies on the bank of Teesta river in Rongpo, near Gangtok in Sikkim. File | Photo Credit: Ritu Raj Konwar The Insurance Regulatory and Development Authority of India (IRDAI) has advised general insurers and standalone health insurance companies to expedite survey of all claims related to the recent devastating…

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