Page-3 of IrDA Current Affairs, GK & News

Insurance broking model to be compulsory for banks soon: IRDA

Soon, the Insurance Regulatory and Development Authority (IRDA) may make the broking model for banks compulsory if significant traction is not achieved in Insurance penetration. Data from the IRDA shows that at present, India stands much below the global average of 6.5 % (of GDP) in insurance spread at 3.96 %. As per IRDA, the ..

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‘Money Maxima’: A new product by Tata AIA Life launched

Tata AIA Life Insurance launched a product ‘Money Maxima’, a long-term plan which is compliant with new IRDA guidelines.  What is Money Maxima? Money Maxima is a long term plan that offers the dual benefits of both guaranteed and non-guaranteed returns and, therefore, is good value for money. These new offerings also provide additional benefits ..

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Suresh Mathur Committee: IRDS sets up panel to study FDI in insurance intermediaries & TPA

The insurance sector regulator, Insurance Regulatory and Development Authority (IRDA) set up a 10-member committee to study the options of allowing 100 % Foreign Direct Investment (FDI) in insurance intermediaries, Third-Party Administrators (TPA), surveyors and loss assessors. The 10-member committee : Headed by:  IRDA Senior Joint Director, Suresh Mathur and  has officials from the regulator, ..

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RBI relaxes group limit for NBFCs in insurance joint ventures

RBI has decided to consider a case-to-case basis relaxation of the 50% group limit norm for NBFCs (Non-Banking Finance Companies) in the equity of insurance joint venture (JV). As per the norms of IRDA (Insurance Regulatory and Development Authority), if  an insurance company wants to enhance its capital it has to do be in compliance ..

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Unique Identity Numbers to hospitals: IRDA

With a view to aid in identifying hospitals and gathering information regarding various charges imposed by them on different medical procedures, the Insurance Regulatory and Development Authority (IRDA) has begun a process to provide unique identity numbers to hospitals. IRDA is working with national accreditation agencies to uniquely identify hospitals, which will involve providing them ..

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