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IRDAI issues series of regulations, tweaks regulation on surrender charges

IRDAI (Insurance Products) Regulations, 2024 merge six regulations into a unified framework aimed at enabling insurers to swiftly respond to evolving market demands, enhancing the ease of conducting business, and boosting insurance penetration. These regulations promote good governance in product design and pricing, including strengthening the principles governing guaranteed surrender value & special surrender value along with disclosures thereof, IRDAI said in a statement.

India , Motor-third-party-obligations , Development-authority-of-india , Motor-third-party-obligations-regulations , Insurance-products , Insurance-regulatory , Development-authority , Social-sector , Insurance-act , Gram-panchayat , Foreign-reinsurers-branches

IRDAI approves 8 principle-based regulations

The IRDAI (Bima Sugam - Insurance Electronic Marketplace) Regulations, 2024, aims to establish a digital public infrastructure named Bima Sugam towards universalization and democratization of insurance as well as empowering and safeguarding policyholders' interests and achieve the vision of "Insurance for all by 2047”, IRDAI said.

India , Bima-sugam , Under-motor , Insurance-electronic-marketplace , Corporate-governance , Insurance-products , Foreign-reinsurers-branches , Irdai , Rdai-board-meeting , Rdai-clears-regulatory-changes , Egulatory-body-approval

IRDAI clears decks for Bima Sugam for buying, selling, settling claims for insurance policies

Bima Sugam will list insurance products from all life, health, and general insurance categories, providing a comprehensive one-stop shop for insurance needs.

India , Bima-sugam , Development-authority-of-india , Motor-third-party-obligations-regulations , Insurance-regulatory , Development-authority , Electronic-marketplace , Digital-public-infrastructure , Social-sector , Motor-third-party-obligations , Insurance-act , Capital-structure