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Low Persistency of life insurance policies is a cause of concern for the Insurance Regulators worldwide , the Industry, Intermediaries and the Policyholders. Early lapses and surrenders are not desirable for any of the stakeholders in the sector.
Read moreIRDA has imposed penalty of Rs. 5 lacs on Central bank of India for violating provisions of IRDA Act. Read more
IRDA has imposed penalty of Rs. 5 lacs on Cholamandalam General Insurance Co. Ltd for violating provisions of IRDA Act.
Read moreApplications are invited for the following posts in the Insurance Regulatory and Development Authority, Hyderabad Read more
On the basis of preliminary estimates, Munich Re achieved a consolidated result of €2.43bn for 2010 (previous year: €2.56bn), despite substantial major losses. Read more
On the basis of preliminary estimates, Munich Re achieved a consolidated result of €2.43bn for 2010 (previous year: €2.56bn), despite substantial major losses. Read more
The Consumer Disputes Redressal Forum, Ahmedabad City, deciding on a complaint filed by Consumer Education and Research Society (CERS) and Deepak Kanayalal Khatwani, has directed ICICI Lombard General Insurance Company Limited, Mumbai, to credit in Khatwani’s savings bank account Rs. 19,049.08 within two months from the date of the order. Read more
Insurance industry in India registered substantial growth after enactment of Insurance Regulatory Development Authority Act in 1999. This industry today functions in a highly competitive environment. Read more
CA. Amarjit Chopra, President, ICAI has signed an MOU with New India Assurance Co. Ltd. on 10th February 2011 extending facility for insurance against professional indemnity for members and CA Firms.
Read moreIRDA Circular In general, health insurance policies have specific exclusions for pre-existing diseases for a specified period of cover during the initial years. However, it has been observed that in cases where policyholder wishes to switch from one insurer to other, they do not gain any credit for the period of cover with previous insurer. Consequently the insured is tied to the insurer which is detrimental to competition. This places in policyholder at a distinct disadvantage. Read more