Tag: IRDAI

ULIPs should not be advertised as ‘investment products’: IRDAI

June 21, 2024 admin

The Insurance Regulatory and Development Authority of India (IRDAI) has issued a master circular barring the promotion of Unit Linked Insurance Plans (ULIPs) as ‘investment products’. | Photo Credit: istock The Insurance Regulatory and Development Authority of India (IRDAI) has issued a master circular barring the promotion of Unit Linked Insurance Plans (ULIPs) as ‘investment…

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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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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…

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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…

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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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