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...

Growth in third-party motor insurance business due to strict fines

A rise in third-party motor insurance purchases was observed despite the decline in auto sales, owning to higher penalties under the new vehicles Act.

Figures suggest, vehicle sales slumped 24%, third-party motor insurance policies climbed up to 38% more. As a result, the overall insura...

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 ...