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Thursday, August 13, 2020



IRDAI allows insurers to offer short-term health policies against COVID-19

June 23, 2020 8:21 pm

Accordingly, all insurers (life, general and health) are allowed to offer COVID-19 specific short-term health insurance policies subject to the guidelines, said the Insurance Regulatory and Development Authority of India (IRDAI).

Insurance cover for mental illnesses: SC seeks response from govt, Irdai

June 17, 2020 1:06 am

A bench of Justices RF Nariman, Navin Sinha and BR Gavai sought responses on the plea by advocate Gaurav Kumar Bansal who contended that Section 21 (4) of Mental Health Act 2017 provided for inclusion of mental illness in insurance policies but has never been followed.

Insurance regulator steps in for standard Covid-19 product

June 01, 2020 7:02 am

This will set the ball rolling for a standard Covid-19 insurance product with details of costs covered, including those for PPE kits and other consumables, which are currently unavailable under a normal health insurance policy.

IRDAI helps bring customer-centricity in health insurance products

April 20, 2020 2:55 pm

There was a lack of uniformity across insurance plans, and IRDAI is trying to correct that by bringing in standardisation.

IRDAI: No proportionate deduction for pharmacy, ICU, diagnostics, implants

March 19, 2020 4:55 am

Insurers should not recover any expenses towards proportionate deductions other than the defined ‘associate medical expenses’ when a policyholder chooses a higher room category than the category that is eligible as per terms and conditions of the policy, IRDAI said.

IRDAI proposes hike in third party premium for vehicles

March 06, 2020 4:37 am

For private cars between 1000 cc and 1500 cc engine capacity, the third party premium will rise from Rs 3,221 to Rs 3,383.

IRDAI asks insurance firms to design coronavirus policies

March 05, 2020 3:42 am

The IRDAI proposal is probably a first in the world at a time when coronavirus cases have seen a spike in the country.

IRDAI may allow life insurers enter health segment; General insurance cos oppose proposal

February 26, 2020 12:36 am

The regulator has set up a nine-member committee with former New India Assurance Chairman and MD G Srinivasan as Chairman and LIC Chairman MR Kumar as Co-chairman to study the feasibility of allowing life insurers to offer indemnity-based health policies.

IRDAI sets up panel for standalone micro-insurer

February 06, 2020 4:29 am

The panel will also consider the aspect of ease of doing business, suggest on the applicability and or relaxation of extant Act and regulatory provisions for the proposed micro-insurance company, which may be registered as an insurer.

Irdai planning to launch catastrophe insurance on pilot basis in select states

December 08, 2019 12:57 am

After getting the government approval, the regulator will launch the cat cover in select states as a pilot project, he said.