15 stories found
The BFSI (Banking, Financial Services, and Insurance) sector is experiencing a significant leadership churn, with new appointments at IRDAI, succession discussions at Tata Sons, and fresh CEO roles being filled.
Patanjali, known for its ayurveda and consumer goods, has received approval from IRDAI to enter the insurance sector with a Rs 4,500 crore investment. This move marks a significant expansion for the company into financial services.
The IRDAI has introduced stricter transparency requirements for health insurance claims, mandating insurers to provide clear reasons and specific policy clauses for any claim rejections.
India's insurance regulator, IRDAI, is considering the establishment of a public insurance registry, a move aimed at enhancing transparency and accessibility within the sector.
The IRDAI has postponed its proposal for listing Third Party Administrators (TPAs) and is instead planning to introduce a uniform framework for intermediaries.
India's IRDAI has introduced new reforms aimed at strengthening the insurance sector and enhancing protection for policyholders.
India's insurance regulator, IRDAI, has created a statutory body specifically to curb the use of 'dark patterns' in the insurance sector, aiming to protect consumers.
India's Insurance Regulatory and Development Authority (IRDAI) is requesting a standard definition of 'claim' from the insurance industry, which is deemed necessary for determining claims ratios and underwriting profits.
The IRDAI has granted approval to Kiwi General Insurance and Allianz Jio Reinsurance, while also discussing a new regulatory framework for the insurance sector.
Saudi Arabia announced the formation of a 14-country maritime coalition to secure commercial shipping in the Red Sea, following increased Houthi attacks threatening the vital waterway. The initiative aims to protect navigation and potentially involves a naval and ground offensive against Houthi forces in Yemen.
India's insurance regulator, IRDAI, has launched a new comic book series featuring a young advisor to simplify complex life insurance concepts for the general public and improve financial literacy.
India's IRDAI has introduced a new rule allowing health insurance claims for hospitalizations as short as two hours, a change that could significantly impact health insurance policies.
India's IRDAI has stipulated that insurance companies must resolve claims within 30 days, with specific timelines for health and life policies, to enhance policyholder rights.
The IRDAI has mandated that insurers must adopt Indian Accounting Standards by April 1, indicating a significant regulatory change in the Indian insurance sector.