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insurance sector
INSURANCE SECTOR NEWS
In the insurance market, avoid over-regulation
December 18, 2025 8:17 am
India's insurance density, primarily driven by life insurance, is merely 10.6 per cent of the world's average. The Sabko Bima Sabko Raksha bill is an attempt to address the gaps.
Explained | New Insurance Bill: What’s in & what’s left out?
December 15, 2025 3:58 pm
The final draft of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 has both hits and misses. Here’s an overview.
Big reset for insurance sector as govt readies sweeping reform Bill
December 01, 2025 10:50 pm
To implement the higher FDI cap, the government will amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Authority Act, 1999. Sitharaman has already indicated that the draft Bill will be tabled in Parliament shortly.
6 out of 10 consumers complain of insurance mis-selling, says survey
May 17, 2024 1:06 am
This practice leverages on the fear of missing out and discourages users from reading all the information available.
Election process to delay insurance sector appointments
April 03, 2024 5:30 am
After PSU banking industry and Life Insurance Corporation (LIC), it is now the turn of the PSU general insurers including Agriculture Insurance Company and GIC Re to finalise the wage negotiations with the government.
Insurance employees’ body slams Centre over privatisation plans
May 08, 2023 2:04 am
AIIEA stressed that the central government might table a Bill in the upcoming Monsoon session to amend the insurance laws to change the minimum capital requirement, commission structure and allow issue of composite licences.
Insurance players need to augment their capital: IRDAI Chairman Debasish Panda
April 13, 2023 12:40 am
Speaking on the regulatory and supervisory regime, the Chairman said the regulator is working towards moving from a factor-based solvency regime to a risk-based capital regime.
Insurance law review on cards to push for ‘efficient use of resources’
December 02, 2022 7:02 am
In view of the changing needs of the insurance sector, a comprehensive review of the legislative framework governing the sector has been done in consultation with IRDAI and industry, the memorandum said.
Surety bonds: Slow take-off likely as pricing, reinsurance concerns remain
February 04, 2022 6:12 am
Surety bonds are aimed at infrastructure development to reduce indirect cost for suppliers and work-contractors, thereby diversifying their options and acting as a substitute for bank guarantee
Complaints of insurers refusing to offer Covid policies: Irdai steps in
May 10, 2021 11:43 pm
The regulator has been flooded with complaints about insurers refusing to offer or renew Covid policies fearing spurt in claims.
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