The IRDAI states that all general and health insurers are mandated to continue to offer the Corona Kavach and the Corona Rakshak policies, which are short-term COVID-specific health policies.
A working group formed by the IRDAI to study title insurance in the country has said that there is a need to expand the range of products in this class of business to improve the marketability of such specialised plans which have to be aligned with the requirements of developers and customised to the needs of Individual buyers.
Sun Life is donating $100,000 to support relief efforts in India for those affected by the devastating second wave of COVID-19.
Mumbai-based financial conglomerate Choice group has launched a FinTech aggregator platform - ISMOS, offering life, health and general insurance plans, intensifying competition in the field.
The Indian insurance sector is at present on the cusp of a transformation, said Dr Subhash Khuntia who retired from his position as IRDAI chairman on 6 May.
Judges gathered online on the 6 May 2021 to deliberate and vote on worthy winners drawn from an impressive shortlist in the final round of judging for the 6th Asia Trusted Life Agents & Advisers Awards.
The IRDAI has issued guidelines on the industry's standard domestic travel insurance product, Bharat Yatra Suraksha (BYS). The insurance regulator urges general and health insurers to offer the product from 1 July 2021.
Insurance Regulatory and Development Authority of India (IRDAI) has sought to increase insurance penetration in rural areas of the country through the concept of model insured villages.
The IRDAI has suggested selecting several villages throughout the country as models of insurance so as to increase insurance penetration in rural areas.
Most insurers have placed a buffer of 3-6 months before they would accept business from customers who are COVID-19 survivors, according to an insurance industry executive.