IRDA issues IPO Regulation for Issuance of Capital by Life Insurance Companies
IRDA Regulations, 2011Issuance of Capital by Life Insurance Companies in India Read more
Month: December 2011
IRDA revises provisions for Consultancy by Insurance Brokers
The Insurance Regulatory and Development Authority (Insurance Brokers) Regulations, 2002 have laid down the functions of a Direct Broker in Regulation 3. Regulations 3(e) and 3(j) envisage that an insurance broker should render advice to a client on appropriate insurance cover and terms and assist in the negotiations of claims. Read more
IRDA imposes a penalty of Rs.500000 on National Insurance for violating IRDA Guidelines
Order Of Insurance Regulatory And Development Authority against  National Insurance Co. Ltd. in the matter relating to complaint filed by M/S Abhinav Traders. Read more
IRDA issues guidelines for approval/renewal of agents training institutes
IRDA issues Standard instructions and guidelines applicable for approval/renewal of agents training institutes Read more
IRDA invites applications for Offline Agents Training Institutes
In view of the demand, it has been decided to open the window for new accreditation of ATIs for private players from 1st January 2012 to 29th February 2012.
Read moreBuilding the Business Case for Business Intelligence in Insurance
In recent years, unprecedented market pressure, increased regulation, and unforeseen natural disasters (such as the recent earthquake in Japan) have caused turmoil in the insurance industry across the Asia-Pacific region.
Read moreIRDA asks travel insurance companies to revert credit risk cover to 100 per cent
In a ruling that will bring relief to travel agents across India, the Insurance Regulatory and Development Authority (IRDA) has asked travel insurance companies to revert the credit risk and disbursement cover provided to travel agents to 100 per cent from the previously decided 80 per cent. Read more
IRDA asks LIC to settle death claims within 6 months
IRDA has asked Life Insurance Corporation of India (LIC) to complete all claims-related investigations within the stipulated time-frame of six months as prescribed by IRDA Regulations. Read more
Third-party motor pool may be withdrawn
The commercial third-party motor pool may be dismantled. This follows four public sector general insurance companies being given a ‘conditional’ nod, in a meeting with the regulator recently. Read more
Drinking no reason to deny Health Insurance Claim due to cirrhosis
Setting aside a district forum order, the Maharashtra State Consumer Disputes Redressal Forum last week directed an insurance company to disburse the insured sum to a Masjid Bunder-based man. Read more