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The IRDA (Insurance Regulatory and Development Authority) has made it clear that the Life Insurance Corporation of India (LIC) will be governed at par with any other insurers when it comes to the investment limit on equities, according to media sources. Read more
Secretary in the ministry of petroleum and natural gas Mr. Girish Chandra Chaturvedi is seen as a frontrunner to succeed Insurance Regulatory and Development Authority (IRDA) chairman Mr. J. Harinarayan; whose term ends on end-February next year. Read more
Girish Chandra Chaturvedi, secretary in the ministry of petroleum and natural gas, is seen as a frontrunner to succeed J Harinarayan, chairman, Insurance Regulatory and Development Authority (IRDA), whose term comes to an end on end-February 2013. Read more
Insurance regulator IRDA has imposed a penalty of Rs 76 lakh on Met Life India Insurance Company for violation of various regulations, Â including gaps in policy administration system.
“…I hereby direct the insurer (Met Life) to remit the penalty of Rs 76 lakh, by debiting share holders’ account …,” the order signed by IRDA Â chairman J Harinarayan said. Read more
The Union finance ministry is lining up a slew of reforms to revive the insurance sector.
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