Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
Insurance Regulatory and Development Authority is consulting market watchdog Securities and Exchange Board of India before allowing insurers to invest in derivative products while planning to introduce a system of risk-based capital assessment by 200
Cut throat competition between public sector units and private companies may push up general insurance business by over 25 per cent to Rs 15,000 crore this fiscal.
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
The Reserve Bank will soon rope in other regulators Securities and Exchange Board of India and Insurance Regulatory and Development Authority to set up a working group in a bid to strengthen the regulatory mechanism for preventing the potential "c
The latest data released by the Insurance Regulatory and Development Authority (Irda) show that during April and May this year, premium from the sale of new policies rose to Rs 8,119 crore (Rs 81.19 billion) compared with Rs 7,331 crore (Rs 73.31 billion), representing a rise of 10 per cent.
Harinarayan's name is under consideration, sources familiar with the development said. Going by the timing of recent appointment orders of the government, it is likely that it will announce his appointment late on Tuesday and keep everyone guessing. If appointed, Harinarayan will be the third chief of Irda after its inception in 1999. Like Rao, Harinarayan is an Andhra cadre IAS officer.
Insurers say they will have to study the available data to work out by how much premiums will have to go up to be able to cover mental illnesses as well
The new draft guidelines issued by IRDAI proposes a minimum sum assured of Rs 50,000 and a maximum of Rs 5 lakh. A General Insurance Council official said the guidelines were still being worked on and would only be finalised next week.
IRDA seems to be sleeping. It is bothered about the well-being of the insurance companies and not about the man on the street who is buying costly Ulips.
Financial conglomerates neither have group-wide oversight mechanisms nor do they follow enterprise-wide risk management practices, according to the findings of a monitoring exercise by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority (Irda).
Irdai has proposed to increase the Motor Third Party premium rates for cars below 1000 cc to Rs 2,120 from the existing Rs 1,850 for the fiscal 2019-20.
Insurance regulator Irdai on Monday said health insurance policies that cover Covid treatment costs will also cover expenses for treating infections due to Omicron. "All health insurance policies issued by all general and health insurance companies that cover treatment costs of Covid-19 also cover the costs of treatment towards Omicron variant of Covid-19 as per terms and conditions of policy contract," the Insurance Regulatory and Development Authority of India (IRDAI) said in a release. The regulator has issued the directive to general and health insurers in view of the growing number of cases of the Omicron variant.
Compared to a third party insurance buying comprehensive insurance makes more sense, says Neeraj Gupta
The NSE Nifty is at 5,340 down 22 points. Inspite of two big negative news looming in the market, the index lost around 100 points,owing to the huge FII inflow which kept the sentiments positive.
The pool was formed by non-life insurance cos in India in Apr '02.
Insurance Regulatory and Development Authority would favour raising the foreign equity cap in the Indian insurance sector from 26% if the Indian promoters fail to enhance the capital base required to sustain the high growth of the sector.
The Life Insurance Corporation of India will comply with the Insurance Regulatory and Development Authority's norm on solvency by providing Rs 1,871 crore (Rs 18.71 billion) additional capital by this fiscal.
Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority N Rangachary said.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
