Tag: IRDAI

IRDAI approves India AS framework for insurers from April 1

March 30, 2026 admin

Insurance regulator IRDAI has approved amendments mandating insurers to prepare and present financial statements in accordance with applicable Indian Accounting Standards effective April 1, 2026. The implementation of Ind AS will be applicable to all categories of insurers — life, general, stand alone health insurers and reinsurers. The amendment sets out the regulatory framework governing…

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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…

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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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