Latest Updates Around The World
Any deals that emerge from the talks would mark the first time Korean insurance companies have entered the Indian insurance sector. South Korean companies Samsung Fire & Marine Insurance, Mirae Asset Financial Group and Hyundai Marine & Fire Insurance Co are in exploratory talks to enter India’s $130 billion insurance market, three Indian sources said. […]
The regulator has asked a total of 23 insurers – eight life insurers and 15 non-life insurers – to explain how spending norms were breached. | Photo credit: Getty Images Many insurers are now under scrutiny by the Insurance Regulatory and Development Authority of India (IRDAI) for exceeding prescribed limits on expenses, which mainly include […]
The total number of complaints registered under UFBP (Unfair Business Practices) has increased from 23,335 in 2023-24 to 26,667 in 2024-25. Misselling is a major problem in the insurance industry and insurers need to conduct a root cause analysis to identify the root causes, the Insurance Regulatory and Development Authority of India (IRDAI) said in […]
TRAI said the directive has been issued with an aim to boost consumer confidence, curb spam and prevent fraudulent activities through voice calls. | Photo credit: Dado Ruvic The Telecom Regulatory Authority of India (TRAI) has directed that entities regulated by the Insurance Regulatory and Development Authority of India (IRDAI) should adopt ‘1600’ serial numbers […]
The growing participation of women not only supports last-mile outreach but also builds deeper trust in the community Women from disadvantaged backgrounds are becoming key figures in driving financial inclusion in underserved rural markets. Insurers recruit women officers from self-help groups (SHG) and other sections of the rural community to work as ‘Bima Vahaks’. “Many […]
Ajay Seth, Chairman, IRDAI Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth has expressed concern over the rising number of complaints and asked insurers to significantly improve the quality and timeliness of resolutions. At a meeting with Chief Compliance Officers (CCOs) and Grievance Redressal Officers (GROs) of all insurers on Wednesday, the […]
Ajay Seth, Chairman, Insurance Regulatory and Development Authority of India (IRDAI) The insurers need to instill confidence among policyholders by ensuring transparency in processes and good governance, said Ajay Seth, chairman, Insurance Regulatory and Development Authority of India (IRDAI). In his message on the occasion of the first Insurance Lokpal Day observed on Tuesday, the […]
