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IRDAI allows life insurers to send policy in electronic format

IRDAI allows life insurers to send policy in electronic format

🕔13:04, 5.Aug 2020

Chennai, Aug 5  The Insurance Regulatory and Development Authority of India (IRDAI) has allowed life insurers to issue policy bonds in electronic format during FY2020-21 owing to Covid-19 pandemic. With life insurers expressing difficulty in printing and dispatching policy documents

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Settle Covid-19 claims if patient is admitted in temporary hospital: IRDAI

Settle Covid-19 claims if patient is admitted in temporary hospital: IRDAI

🕔17:26, 17.Jul 2020

Chennai, July 17  The Insurance Regulatory and Development Authority of India (IRDAI) has asked non-life insurers to settle Covid-19 claims even if the patient is admitted in makeshift or temporary hospitals recognised by the government. In a circular, the insurance

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Non-life insurance sector posts 4.24% negative growth in Q1

Non-life insurance sector posts 4.24% negative growth in Q1

🕔18:34, 9.Jul 2020

Chennai, July 9 The non-life insurance industry has logged a degrowth of 4.24 per cent during the first quarter of the current fiscal, said the sectoral regulator on Thursday. According to Insurance Regulatory and Development Authority of India (IRDAI), the

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IRDAI sets up group to find space for selling Surety Bonds

IRDAI sets up group to find space for selling Surety Bonds

🕔18:34, 2.Jul 2020

Chennai, July 2 The Insurance Regulatory and Development Authority of India (IRDAI) has set up a nine member working committee to look at the possibility of Indian non-life insurers offering Surety Bond to contractors. The IRDAI has set up the committee

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Grace period for life insurance policies extended till May 31

Grace period for life insurance policies extended till May 31

🕔06:56, 11.May 2020

New Delhi, May 11  Insurance regulator IRDAI has again extended the grace period for premium payment or renewal of life insurance policies, which were due in March, till May 31. “As the lockdown has been extended up to May 17,

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Life insurance policy holders get 30 more days to pay premium

Life insurance policy holders get 30 more days to pay premium

🕔15:03, 5.Apr 2020

New Delhi, April 5  In a major relief for life insurance policy holders amid the cornavirus crisis, the Insurance Regulatory and Development Authority of India (IRDAI) has extended the deadline for paying premium of life insurance policies, by another 30

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Irdai to review Motor Third Party obligations on insurers

Irdai to review Motor Third Party obligations on insurers

🕔10:00, 29.Aug 2019

New Delhi, Aug 29  A working group set up by insurance regulator Irdai will look at reviewing the regulations on formulae of current Motor Third Party obligations. “The working group to revisit the IRDAI (Motor Third Party Obligation in respect

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IRDAI issues draft guidelines for standard health product

IRDAI issues draft guidelines for standard health product

🕔07:22, 20.Feb 2019

New Delhi, Feb 20 Insurance regulator IRDAI on Tuesday issued draft guidelines for standard health product by all insurers including general and health insurance businesses. According to the draft issued on the IRDAI website, the minimum basic sum insured under standard

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BSE-Ebix JV to seek IRDAI’s nod for insurance distribution

BSE-Ebix JV to seek IRDAI’s nod for insurance distribution

🕔18:02, 13.May 2018

Kolkata, May 12 (IANS) India’s leading stock exchange BSE Ltd’s joint venture (JV) with US based insurance exchange Ebix will seek approval from the Indian insurance regulator for rolling out of its insurance distribution venture, the BSE chief said here on

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IRDAI for effort to rectify pricing anomalies of customer policies

IRDAI for effort to rectify pricing anomalies of customer policies

🕔12:08, 11.Jun 2015

Kolkata, June 11  India’s insurance regulator on Wednesday asked the industry to make a concerted effort to rectify pricing anomalies of customer policies by undertaking a scientific analysis of claims. Insurance Regulatory and Development Authority of India (IRDAI) senior joint

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Insurance regulator can levy conditions on share transfer

Insurance regulator can levy conditions on share transfer

🕔10:31, 6.May 2015

Chennai, May 6  India’s insurance regulator can levy conditions like a minimum lock in period while according its sanction to transfer of shares in an insurance company, according to the new regulations. The Insurance Regulatory and Development Authority of India

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IRDAI gives in-principle nod for nuclear liability pool

IRDAI gives in-principle nod for nuclear liability pool

🕔10:48, 24.Feb 2015

Chennai, Feb 24  The Insurance Regulatory and Development Authority of India (IRDAI) has approved setting up of the nuclear liability pool, said a top official. “We have recently given in-principle approval for setting up of the nuclear liability pool,” IRDAI

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IRDAI directs SBI Life to refund Rs.275 crore excess commission

IRDAI directs SBI Life to refund Rs.275 crore excess commission

🕔12:00, 21.Feb 2015

Chennai, Feb 21  Directing private life insurer SBI Life Insurance Company Ltd. to refund excess commission of Rs.275.29 crore to policy holders, the Indian insurance regulator Friday reiterated that it has necessary powers to pass such an order under the

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