WHAT IS INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (IRDAI) ?
IRDAI
The Insurance Regulatory and Development Authority of India (Irdai) is an autonomous and statutory body which is responsible for managing and regulating insurance and re-insurance industry in India.
Irdai is a 10-member body- a chairman, five full-time members and four part-time members. It was constituted under an Act of Parliament in 1999 and the agency’s headquarters is in Hyderabad.
IRDAI NEWS
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Insurance sector needs Rs 50,000 cr capital each year to double penetration
Irdai Chairman Debabsish Panda said the Rs 50,000 crore figure was arrived at by making assumptions on the country's GDP, ...| January 20, 2023, Friday -
Joshimath subsidence: Irdai asks insurers to expeditiously settle claims
Insurers have also been asked to engage adequate number of surveyors immediately as required and, if need be, consider engaging ...| January 19, 2023, Thursday -
Insurers can classify green bond purchases as infra investments: Irdai
The investments in green bonds can qualify towards statutory liquidity ratio (SLR) - the minimum percentage of deposits ...| January 16, 2023, Monday -
Axis Bank to pick residual stake in Max Life at fair market value
The revision in valuation has been done according to IRDAI guidance| January 10, 2023, Tuesday -
Irdai to allow insurers to auto renew FRN of cross border reinsurers
Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which ...| January 04, 2023, Wednesday -
Need insurers catering to niche sectors like NBFCs, MFIs: Rakesh Joshi
Need insurers catering to niche sectors akin to NBFCs, MFIs: Rakesh Joshi| December 22, 2022, Thursday -
Irdai to introduce 'Bima Vahaks' to expand insurance force: Rakesh Joshi
BS BFSI Insight Summit 2022: The insurance companies are also in the process of developing state-level insurance plans in ...| December 22, 2022, Thursday -
Irdai advises firms about minimum rate rule for reinsurance treaties
Regulator's instruction is about burning or break-even cost calculated to estimate the expected losses for a policy| December 20, 2022, Tuesday -
BS BFSI Insight Summit 2022: Irdai member Rakesh Joshi to speak at event
Joshi was made the head of a 15-member Health Insurance Consultative Committee set up by Irdai in October. He has more than 37 ...| December 19, 2022, Monday -
Delhi HC directs Irdai to introduce products for persons with disabilities
The Delhi High Court has directed the Irdai to ensure the products are introduced on an early date for persons with disabilities ...| December 14, 2022, Wednesday
