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The Latest Breaking News from The Insurance Regulatory and Development Authority of India

Insurance penetration stays low as operating costs rise faster than premiums: McKinsey

India's insurance penetration is at 3.7 per cent of GDP, which is below the global average. While life insurance premiums grew, the number of individual policies sold declined in recent years. The Insurance Regulatory and Development Authority of India is examining changes to improve affordability and transparency in distribution costs.…

The Economic Times · Oct 1

PB Fintech forced to rethink business plan as India insurance commissions cap comes as a major shocker

Proposed commission caps from the Insurance Regulatory and Development Authority of India could severely impact PB Fintech's revenue. The company anticipates a potential reduction in income from general insurance to 33-40% of current levels. As a response, PB Fintech plans to enhance cost control measures and shift its focus toward…

The Economic Times · Sep 24

IRDAI proposals on insurance’s money machine leads to bloodbath for stocks: What happens to your money

Insurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Proposed limits on commissions aim to reduce mis-selling and distribution costs in the insurance market. The changes could significantly impact banks, brokers, and digital distributors dependent on commissions for income. Insurers may need…

The Economic Times · Sep 24

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Health Insurance Claims Rejection in India: The Real Reasons and How to Prevent Each One

The Disclosure Problem That Kills Most Claims Before They StartThe single most common reason health insurance claims are rejected in India is non-disclosure at the time of buying the policy. If you had hypertension, diabetes, or a prior surgery and did not declare it on the proposal form, the insurer…

Times Life · Sep 12

Term Insurance vs Endowment Plans: What Every Indian Must Know Before Buying a Policy

The Coverage Gap Nobody Talks About at the Time of PurchaseA 32-year-old earning Rs 12 lakh a year buys an endowment plan with a sum assured of Rs 10 lakh. The premium is Rs 40,000 a year for 20 years. The family feels protected. They are not. Ten lakh rupees…

Times Life · Aug 12

Irdai asks insurers to link pay packages of senior executives to customer-centric metrics

The Insurance Regulatory and Development Authority of India (Irdai) has made amendments to the IRDAI (Corporate Governance for Insurers) Regulations, 2024.

The Economic Times · May 26

Universal cover: On the IRDA’s all-in-one insurance policy

The Insurance Regulatory and Development Authority of India’s simple, all-in-one insurance policy seems to be its UPI-like moment

The Hindu · May 30, 2023

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IRDAI proposes to tighten norms for media campaigns by insurers

The Insurance Regulatory and Development Authority of India (IRDAI) is proposing to tighten norms for insurance advertisements by assigning higher responsibility on the senior management of insurers in designing and approving media campaigns, for product promotion.

The Hindu · May 7, 2023

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