Insurance Regulatory and Development Authority of India (IRDAI) Current Affairs, GK & News

IRDAI Committee to expand health insurance coverage

Insurance Regulatory and Development Authority (IRDAI) has set up a consultative committee to expand health insurance cover in India. What is the committee’s purpose? The 15-member committee has been set up for two years by the insurance regulator to achieve objective of universalization of health insurance in India. It will provide recommendations on the following ..

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IRDAI Bima Manthan 2022

“Bima Manthan 2022” is being organised by ‘Insurance Regulatory and Development Authority of India (IRDAI)’. This is the first hackathon and is being organised under theme- “Innovation in Insurance”. The hackathon has called participants to identify and develop solutions having potential to make insurance available to every individual swiftly and seamlessly. In the Bima Manthan ..

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National Health Claims Exchange

The National Health Authority (NHA) and IRDAI has decided to develop a National Health Claims Exchange. Key Facts The National Health Claims Exchange will be developed as a digital platform, for settling the health claims. Chairman of IRDAI, Debasish Panda, has also proposed for creation of a working group with representation from industry. The working group ..

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IRDAI guidelines on Surety Insurance

The IRDAI recently issued guidelines for surety insurance. Under the guidelines, the Insurance Regulatory and Development Authority of India has capped the surety insurance to 10% of the premium. And the maximum threshold was set to five hundred crores of rupees. What is surety insurance? Surety insurance are guarantees without collateral. It protects the lender ..

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Domestic Systemically Important Insurers (D-SIIs) for 2021-22

On December 30, 2021 Insurance regulator IRDAI has identified the state-owned LIC, GIC and New India Assurance Co. Ltd as Domestic Systemically Important Insurers (D-SIIs) for 2021-22, in continuation. What is D-SIIs? D-SIIs are insurers of such size, market importance, and domestically & globally inter-connected, whose failure or distress will result into significant dislocation in ..

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IRDAI Guidelines on Trade Credit Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) recently issued draft guidelines for general insurance companies. The guidelines mainly focus on credit insurance products with customised covers for MSMEs. Guidelines on Trade Credit Insurance The guidelines will enable general insurers to offer trade insurance covers to financial institutions (mainly licensed banks). This will help ..

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