Daily Headlinez Top News Updates
Reduce Focus On Profits, Improve Transparency, Curb Misselling’Irdai has sought to link insurance company CEO salaries to customer outcomes, introduce clawbacks and increase transparency. This follows a study by the regulator which showed that CEO salaries were all over the place with key management at times accounting for a big chunk of the wage cost….
Car insurance is a must for every car owner in India, but it is also one of the most confusing parts of ownership. Policy documents are full of technical words that can be hard to understand, especially if you are buying insurance for the first time. Still, knowing a few basic terms can go a…
Mis-selling continues to be a key concern in the insurance sector, with the regulator asking insurers to dig deeper into the root causes behind such practices, according to the latest annual report of the Insurance Regulatory and Development Authority of India (Irdai).While the total number of grievances against life insurers remained largely unchanged at 1,20,429…
MUMBAI: Insurers are expected to adopt more disciplined underwriting and pricing strategies as the Irdai transitions to Risk-Based Capital (RBC) norms, moving away from a ‘one-size-fits-all’ solvency model to align capital requirements with actual risk profiles. Simultaneously, the regulator has cleared the implementation of IFRS 17 (Ind AS 117), which fundamentally redefines the ‘topline’ by…
MUMBAI: Insurance regulations to prevent mis-selling are set to tighten with the Insurance Regulatory and Development Authority of India (Irdai) set to frame stricter norms on commission disclosure and conflicts of interest, enabled by amendments cleared in the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025.The amendments give the regulator explicit powers to…
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) is closely examining the shortfall in the settlement of health insurance claims, even as over half of the complaints received under the insurance ombudsman system relate to health policies.At the Bima Lokpal Day event on Tuesday, Irdai chairman Ajay Seth said, “In health insurance, we…
MUMBAI : The Insurance Regulatory and Development Authority of India (IRDAI) is closely examining the shortfall in the settlement of health insurance claims, even as more than half of the complaints received under the insurance ombudsman system relate to health policies.Speaking at the Bima Lokpal Day event on Tuesday, IRDAI chairman said that while the…
