EX-IRDAI CHAIRMAN SEES SCOPE OF INDIAN INSURANCE SECTOR TRANSFORMATION

HIGHLIGHTS

• Former IRDAI Chairman Subhash Chandra Khuntia believes that Indian insurance sector on the cusp of a transformation.
• Mr. Khuntia believes that demography of India, relatively low insurance penetration, and the potential for high economic gr...

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.

COVID-19 IMPACT: HEALTH INSURANCE BUSINESS ON CLOUD NINE SAYS IRDAI MEMBER

Highlights

• Total 500 insurance products were launched in last 20 years but since March, the IRDAI has approved 130 new products

• As per the IRDAI, the dominance of health segment will increase by the end of the year 2020

There are very few sectors that h...

General insurance want FDI to be raised to 74 percent

General insurance firms are in favor of expanding the sector's ceiling on foreign direct investment (FDI) to 74%.

The General Insurance Council (GIC), India's representative body of general insurance, health insurance and reinsurance firms, met last week to discuss insurance com...

Rules of the Indian Insurance Companies

The Department of Financial Services, Ministry of Finance, Government of India by method for a notice dated September 2, 2019, has changed the Indian Insurance Companies (Foreign Investment) Rules, 2015, compliant with which the 49% outside value speculation top appropriate to protection middle p...

Aviva settles one issue many to go

The insurance sector is what the government has been eyeing to grow as it has been a very underwhelmed sector which has a lot of growth potential that has been left untapped for a very long time and now as the nation of India is failing in economic growth as well as the finances of the nation the...

Insurances now an investment?

The insurance sector has been changing rapidly, and in the wake of failing finances, we are seeing some major changes in the way this sector has been operating. While general insurances have gone up in sales there have been some major downfalls to as the insurance firms are being merged and chang...

New rules from IRDAI

The insurance companies of India are known for the weird and different advertisements they make for any products, and insurance is no exception to this. From involving kids to discuss insurances to husband and wife considering it during a wedding ceremony, India has done it all.

Now the...