Regulation

SC Khuntia, Chairman, IRDAI

``Data analytics & security' have to go together :IRDAI Chief

Indian News       Oct 14, 2018

  Mumbai: The IRDAI chief has cautioned that with the emergence of insurance depositaries and increasing use of data analytics by the insurers, the data privacy of customers has to be guarded properly.   `` Insurance industry generates huge number of data. Also the insurers’ use of...

IRDAI forms panel to examine if insurers can pay  PA claims & Benefit Based Health Policies in installments

Indian News       Oct 12, 2018

  Hyderabad: The insurance regulator. IRDAI  has formed  a committee under Suresh Mathur , executive director, IRDAI , to examine whether insurers can pay  claims in installments in respect of Personal Accident Policies and Benefit Based Health Policies as against lump sum payments.   According to IRDAI,some...

Banks, telcos may be allowed to use Aadhaar again via legislation: Jaitley

Indian News       Oct 06, 2018

  New Delhi: Finance Minister Arun Jaitley Saturday said a Parliament approved legislation can restore mandatory linking of biometric ID Aadhaar with mobile phones and bank accounts, but did not say if the government will bring a new law for the same.   Sources said the move...

IRDA's nod for Anil Ambani's Reliance Health Insurance

Indian News       Oct 03, 2018

  Hyderabad:  Anil Ambani owned Reliance Capital has received the final approval  from the insurance regulator IRDAI on Wednesday to float  a stand alone health insurance company Reliance Health Insurnace.     ``Reliance Health Insurance Limited, a Health Insurance Company, promoted by Reliance Capital Limited (100% wholly owned),...

IRDA keeps a tab on `non-promoters’ investments in insurance cos

Indian News       Oct 01, 2018

  Hyderabad: The insurance regulator IRDA now wants keep a tab on the non-promoters’ investments made in the insurance companies.   In an instruction to be complied with immediate effect  by the Indian insurers , IRDAI on Monday has asked them to provide information of the non-promoters’...

IRDAI allows distribution of all micro-insurance products via PoS

Indian News       Sep 30, 2018

  NEW DELHI:  Insurance regulator IRDAI has allowed distribution of all micro-insurance products through point-of-sales (PoS), with an aim further increase insurance penetration in the country.   The Insurance Regulatory and Development Authority of India (IRDAI) has created a special category of insurance policies called micro-insurance policies...

Pakistan approves first Islamic reinsurance service

International News       Sep 30, 2018

  Islamabad: Pakistan’s capital market regulator has granted approval to the country’s sole reinsurer to offer sharia-compliant reinsurance, part of efforts to boost the fledgling Islamic insurance (takaful) sector.The Securities and Exchange Commission of Pakistan (SECP) said on Saturday it had authorised Pakistan Reinsurance Co to...

IRDA approves revised reinsurance regulations

Indian News       Sep 28, 2018

  Hyderabad: The board of insurance regulator IRDAI has met on Friday under its chairman Subhas Khuntia and has cleared the long pending revised reinsurance regulations where state owned reinsurer GIC Re's predominance in the Indian reinsurnace market has been retained.   Effectively, the existing provision in...

Govt moves to find successors of Joseph and Sathe at IRDAI

Indian News       Sep 28, 2018

  New Delhi: The centre has advertised for the two posts of whole-time-members in the Insurance Regulatory and Development Authority of India (IRDAI} as PJ Joseph, member, non-life and Nilesh Sathe,member,life, will be retiring shortly after reaching 62.   The necessary advertisement to fill up the two...

Aadhaar not mandatory for opening bank accts, insurance policies & mobile connections:SC

Indian News       Sep 26, 2018

  New Delhi: In a landmark 4-1 judgement on Wednesday, the Supreme Court's five-judge constitution bench while upholding  validity of Aadhaar,  -12-digit Unique Identification Number-has barred Individual and private corporates to collect Aadhar data, nor it can be mandated for opening of bank accounts, and insurance...

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