IRDAI WANTS TO CREATE P&I INSURANCE CLUB

HIGHLIGHTS

• IRDAI is planning to create a P&I insurance club.
• IRDAI is in talks with INSA.

The Insurance Regulatory and Development Authority of India (IRDAI) is planning to create a Protection and Indemnity (P&I) club in the ...

IRDAI WARNS PEOPLE AGAINST BUYING MOTOR INSURANCE FROM FRAUD COMPANY

HIGHLIGHTS

• IRDAI has urged people to not to buy motor insurance from Digital National Motor Insurance.
• Digital National Motor Insurance is a Bengaluru-based fraud company.
• This company does not have any license to sell insurance.

Non-life insurance companies announced an 11.5 percent increase in premium collections of some 15,980.81 crore

NEW DELHI: In December 2019, non-life insurance companies announced an 11.5 percent increase in premium collections of some 15,980.81 crore, Irdai data showed.

As many as 34 non-life insurance companies in the same month a year earlier had received a cumulative premium of 14,334.98 cror...

Engine protection in 2019: Hike in outsider premiums and punishments

As indicated by the new Motor Vehicles Act, which came into power from September 1, the punishment on driving a vehicle without substantial engine protection has been expanded to Rs 2,000 for the principal offense and a fine of Rs 4,000 for the second offense with the probability of being impriso...

Max India sells stake in Max Bupa as policyholders are reassured

Insurance Regulatory and Development Authority of India (IRDAI) has given the go-ahead to sell its entire stake in Max Bupa Health Insurance Company Ltd, according to Max India Limited.

A joint partnership, Max Bupa Health Insurance Company Ltd was taken by Max India limited and UK rela...

IRDAI to the rescue of insurances

The insurances of the nation have become a hot topic to be discussed as the financial systems are starting to collapse. The insurance sector could save failing banks and some other non-banking financial firms. But this will require complete cooperation from the insurance firms and also need the i...

Startups doing better than traditional insurance firms

The insurance scene of India has been changing and it is for the good this time, as the traditional startup systems are failing miserably the new tech startups have kicked and took up the mantle of balancing the unstable sector and with their confidence, they are here to kill the traditional name...

Insurance firm fined for violations

The insurance sector of India has been in quite a mess as there are more and more frauds in the sector are being found. It is becoming difficult for the insurance sector to stay financially viable aa the banking sector and the core financial sector is also a mess which is causing more harm to the...

New norms from the IRDAI for insurance growth

Insurance Regulatory and Development Authority of India (IRDAI) has been seen making significant changes to the insurance in the past couple of years, and we think this is because of the decline in the insurance sector of India, which has caused the nation a lot in insurance money.

The ...

Motor insurance on the rise?

 This week the Insurance Regulatory and Development Authority of India (Irdai)released business analysis figures that indicate substantial growth in the premium income documented by general insurance companies in the month of September.

Premium income rose to INR 20, 145.46 crores ...