IRDAI slaps Rs 85 lakh on Reliance Life for violating norms

Last Updated: Friday, August 7, 2015, 22:43

Insurance sector regulator IRDAI has slapped a penalty of Rs 85 lakh on Reliance Life for violation of various norms, including outsourcing guidelines.

IRDAI asks life insurers to avoid delay in pension payment

Last Updated: Friday, August 7, 2015, 22:35

Insurance watchdog IRDAI has issued directive to life insurers to streamline process to ensure timely payment of pension to policyholders who have bought such products from them.

'Pass on discount on health insurance claim to policyholders'

Last Updated: Tuesday, June 23, 2015, 21:36

IRDAI said the discount should be in absolute monetary terms and every insurer shall make these procedures as part of their detailed guidelines on claim settlement.

Panel suggests a new disclaimer for use in insurers' ads

Last Updated: Sunday, May 24, 2015, 11:55

The report has also recommended that there should be greater transparency and clarity to enable policy holders to understand the boundaries of coverage in their policies.

IRDAI seeks suggestions on proposed amendments to its rules

Last Updated: Monday, May 11, 2015, 22:18

Insurance sector regulator IRDAI has sought public comments on proposed amendments to its existing norms pursuant to the introduction of Insurance Laws (Amendment) Act, 2015.

SAT may hear SBI Life case against IRDAI this week

Last Updated: Sunday, May 3, 2015, 12:41

The Securities Appellate Tribunal (SAT) has served a notice to Insurance Regulatory and Development Authority of India (IRDAI) in adjudication of a case relating to SBI Life, the life insurance arm of SBI.

IRDAI wants insurers to stick to grievance redressal norms

Last Updated: Sunday, April 26, 2015, 14:10

IRDAI feels that this is giving rise to "aggravated customer dissatisfaction and escalation of complaints to higher authorities".

New India to launch four new products in FY16

Last Updated: Friday, April 24, 2015, 19:10

State-owned New India Assurance is planning to launch four products - two each in the motor and health segments - during the current fiscal.

'Through IFSC India can become re-insurance hub in SAARC'

Last Updated: Saturday, April 11, 2015, 08:51

Putting high hopes on the India's first International Financial Services Centre(IFSC) at GIFT City here, insurance regulator IRDAI's chief T S Vijayan said it can make India a leading player in the multi-billion dollar re-insurance segment.