[

irdai

]
The Insurance Regulatory and Development Authority of India aims to protect policyholders from abrupt rise in premiums. (Getty/HT Archive)

Insurers barred from changing health plans

By Navneet Dubey, Livemint, New Delhi
PUBLISHED ON MAR 17, 2021 08:19 AM IST
  • The Insurance Regulatory and Development Authority of India (Irdai) announced the new rule in a circular on product filing in health insurance on various categories of individual products, and add-ons (riders).
The report noted that smartphone insurance products, which protect smartphone owners from the burden of extra costs, like accidental damage and screen damage, have gained popularity in the market over the last few years.(Bloomberg file photo)
The report noted that smartphone insurance products, which protect smartphone owners from the burden of extra costs, like accidental damage and screen damage, have gained popularity in the market over the last few years.(Bloomberg file photo)

India’s smartphone insurance market to reach USD 500 million by 2025: RedSeer

New Delhi | By Press Trust of India | Posted by Deepali Sharma
PUBLISHED ON DEC 09, 2020 05:13 PM IST
The smartphone user base is expected to reach close to 1 billion population at a run rate of about 78 million new users being added per year by the end of 2025.
The changes in proportionate deductions will come in handy for policy buyers who choose a room with a higher rent than what is covered in their insurance policy.(Shutterstock)
The changes in proportionate deductions will come in handy for policy buyers who choose a room with a higher rent than what is covered in their insurance policy.(Shutterstock)

How IRDAI’s new rules benefit health insurance policyholders

By Promotional Feature, HT Brand Studio
UPDATED ON OCT 13, 2020 01:17 PM IST
From standardized policy clauses to the inclusion of telemedicine, the benefits are many.
The list of insurance companies recognised by IRDAI are available on its website.(AP)
The list of insurance companies recognised by IRDAI are available on its website.(AP)

IRDAI cautions people against unauthorised entities selling health plans

New Delhi | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON OCT 06, 2020 07:42 PM IST
Insurance Regulatory and Development Authority of India (IRDAI) said it has came to notice that some unauthorised entities are professing to be selling health plans by offering discounts on medical treatments or diagnostic tests.
Policies can be life-savers for COVID-19 patients, especially those who do not have an existing health cover and are looking for the necessary protection.(iStock)
Policies can be life-savers for COVID-19 patients, especially those who do not have an existing health cover and are looking for the necessary protection.(iStock)

Safeguarding your physical and financial well-being with COVID health insurance

By Promotional Feature, HT Brand Studio
UPDATED ON JUL 21, 2020 03:43 PM IST
The pandemic has fuelled awareness about health insurance policies with people sharing their nightmarish experiences of the difficulties in getting timely medical attention and skyrocketing medical bills. Sound policies can go a long way in ensuring accessibility of good medical care facilities and maintaining one’s financial health.
Life insurers have historically been the biggest contributor among domestic institutional investments to the stock markets.(Getty Images/iStockphoto)
Life insurers have historically been the biggest contributor among domestic institutional investments to the stock markets.(Getty Images/iStockphoto)

Covid-19 poses threat to insurer premiums, stocks

Mint, Mumbai | By Anirudh Laskar
UPDATED ON JUL 12, 2020 11:36 PM IST
Life insurance premium collections from new businesses dropped to just Rs 49,335.43 crore in the June quarter from Rs 64,565.5 crore in the March quarter, and Rs 69,000 crore in the December quarter, according to the Insurance Regulatory and Development Authority of India, or Irdai.
The policies have been designed by IRDAI.(HT photo)
The policies have been designed by IRDAI.(HT photo)

‘Corona Kavach’: IRDAI asks insurance companies to offer health policy for Covid-19 by July 10

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Shivani Kumar
UPDATED ON JUN 28, 2020 03:56 PM IST
According to the guidelines, the minimum sum insured for the Corona Kavach Policy will be Rs 50,000 and the maximum Rs 5 lakh. While in the Corona Rakshak Policy, the minimum sum insured is 50,000 and the maximum limit has been set at Rs 2.5 lakh. 
Advocates wearing protective masks as a precautionary measure amid rising coronavirus scare, at Supreme Court area, Bhagwan Dass road, in New Delhi.(Raj K Raj/HT PHOTO)
Advocates wearing protective masks as a precautionary measure amid rising coronavirus scare, at Supreme Court area, Bhagwan Dass road, in New Delhi.(Raj K Raj/HT PHOTO)

SC asks govt, IRDAI to respond to petition over mental illness insurance

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUN 17, 2020 02:19 AM IST
The plea, filed by an advocate Gaurav Kumar Bansal, stated that insurance companies were refusing to provide such coverage despite a mandate under the Mental Healthcare Act of 2017.
In the case of delay in the payment of a claim, the company will be liable to pay interest to the policyholder from the date of receipt of last necessary document to the date of payment of claim at a rate 2 per cent above the bank rate.(iStock photo)
In the case of delay in the payment of a claim, the company will be liable to pay interest to the policyholder from the date of receipt of last necessary document to the date of payment of claim at a rate 2 per cent above the bank rate.(iStock photo)

Health insurance claims not contestable after 8-year of premium payment: Irdai

New Delhi | By Press Trust of India
PUBLISHED ON JUN 14, 2020 03:00 PM IST
On claim settlement, Irdai said the insurance company should settle or reject a claim, as the case may be, within 30 days from the date of receipt of last necessary document.
A man salvages items from his house damaged by cyclone Amphan in Midnapore, West Bengal, on May 21, 2020.(AFP)
A man salvages items from his house damaged by cyclone Amphan in Midnapore, West Bengal, on May 21, 2020.(AFP)

Cyclone Amphan: Irdai asks life insurers to expeditiously settle claims

New Delhi | By Press Trust of India | Posted by Harshita Singh
PUBLISHED ON MAY 22, 2020 07:53 PM IST
In a circular, the Insurance Regulatory and Development Authority of India (Irdai) said there are reports of loss of human lives and loss of belongings in the cyclone affected districts, primarily in the states of West Bengal and Odisha.
The companies had submitted their initial bids in response to an ‘expression of interest’ floated by the Insurance Regulatory and Development Authority of India (Irdai) in August.(Mint)
The companies had submitted their initial bids in response to an ‘expression of interest’ floated by the Insurance Regulatory and Development Authority of India (Irdai) in August.(Mint)

TCS, Wipro in fray to manage Irdai’s BAP

New Delhi | By Press Trust of India
UPDATED ON NOV 03, 2019 04:27 PM IST
Irdai said BAP was implemented for automation of registration and other connected activities for insurers, brokers, surveyors and third party administrators, as well as automation of product approvals, branch office opening and advertisements, among others.
PolicyBazaar violated regulations by entering into a partnership with non-insurance entity Indian Health Organization by Aetna (IHO) for offering consultation and OPD services to new customers.(iStock)
PolicyBazaar violated regulations by entering into a partnership with non-insurance entity Indian Health Organization by Aetna (IHO) for offering consultation and OPD services to new customers.(iStock)

Insurance regulator fines PolicyBazaar Rs 1.11 crore for violating rules

livemint | By HT Correspondent
UPDATED ON AUG 29, 2019 05:31 PM IST
According to IRDAI, PolicyBazaar violated rules by entering into a partnership with the Indian Health Organization by Aetna for offering consultation and OPD services to new customers. A total of eight charges of violation of rules were filed against PolicyBazaar.
The government has decided to standardize health insurance across the public and private sectors, seeking to reinforce the medicare system and ensure that claims are settled in no more than 30 days.(Getty Images)
The government has decided to standardize health insurance across the public and private sectors, seeking to reinforce the medicare system and ensure that claims are settled in no more than 30 days.(Getty Images)

Centre considers health insurance standardisation

New Delhi | By Rhythma Kaul
PUBLISHED ON APR 05, 2019 11:16 PM IST
AB-PMJAY, launched in September last year, provides an annual hospitalisation cover of Rs 5 lakh to around 100 million families in at least 16,000 empanelled hospitals.
LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender’s stressed balance sheet.(Reuters File Photo)
LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender’s stressed balance sheet.(Reuters File Photo)

LIC board approves acquisition of up to 51% stake in IDBI Bank

Press Trust of India, New Delhi | By HT Correspondent
UPDATED ON JUL 16, 2018 02:59 PM IST
LIC’s buying stake in IDBI Bank will help the debt-ridden state-owned bank get a capital support of Rs 10,000- 13,000 crore.
IDBI Bank is grappling with mounting toxic loans with gross non-performing assets rising to a staggering Rs 55,600 crore at the end of the March quarter(Mint)
IDBI Bank is grappling with mounting toxic loans with gross non-performing assets rising to a staggering Rs 55,600 crore at the end of the March quarter(Mint)

LIC gets Irdai nod to buy 51% stake in IDBI Bank: Report

New Delhi | By Press Trust of India
UPDATED ON JUN 29, 2018 07:27 PM IST
Irdai has permitted LIC to pick up to 51 per cent stake in IDBI Bank by relaxing existing rules of investment for life insurance companies
SHARE
Story Saved