Online resource centre on insurance for magazine, books, training, articles and news on insurance
The race for the post of the chairman of Insurance Regulatory Development Authority (IRDA) may not be a done deal yet. The Central Vigilance Commission (CVC), it seems, is frowning at the proposal to appoint T S Vijayan, former chairman of the Life Insurance Corporation of India (LIC), according to sources familiar with the development.
There could be a big cheer for India’s insurers in the national budget as the government plans to reduce service tax on premiums, protect existing policies from future tax changes, and relax rules on tax deducted at source to encourage households into buying more insurance cover. Read more
There is a difference of opinion between the chairman of the Insurance Regulatory and Development Authority (IRDA) and the finance ministry over the creation of a new post in the regulatory body. IRDA chief J Hari Narayan chose to stay away from a meeting to fill the new position even as the panel comprising bureaucrats shortlisted two candidates. Read more