Insurance regulator IRDAI is proposing an internal ombudsman mechanism in insurance companies to address complaints involving claims up to ₹50 lakh. It will applicable to all insurers, except reinsurers, who have been in operation for more than three years. The objective is to set up an independent and impartial review mechanism within insurers to […]
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Former Finance and Economic Affairs Secretary Ajay Seth has been appointed by the government as Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) for a three-year term. The Appointments Committee of the Cabinet approved the appointment of the former IAS officer to the top post at the insurance regulator. The appointment is […]
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Recently, the new IRDAI Chairman Debasish Panda had said it was time life insurers re-entered the health vertical Recently, the new IRDAI Chairman Debasish Panda had said it was time life insurers re-entered the health vertical Insurance behemoth Life Insurance Corporation (LIC) is keen to re-enter the mediclaim segment as and when the regulator provides […]
Continue ReadingThis comes days after the insurance sector regulator extended similar relaxations to health insurance products as well as general insurance covers This comes days after the insurance sector regulator extended similar relaxations to health insurance products as well as general insurance covers Insurance sector regulator IRDAI on June 10 extended the ‘use and file’ procedure […]
Continue ReadingThis step by IRDAI will supplement the recent revision of premium rates by the Government of India for the two flagship schemes – PMJJBY and Pradhan Mantri Suraksha Bima Yojana to make these schemes economically viable. This step by IRDAI will supplement the recent revision of premium rates by the Government of India for the […]
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