Life insurance and the importance of proper disclosures
This will inspire more consumer trust, and enhance transparency among agents
Tracing the History of IRDAI’s Regulations on Suitability and its Interpretations by Market Participants – Part 2
In this blog post, which is the second part of the two-part series, we studied the suitability formats of four life insurance companies and found many contrasts in the manner in which IRDAI’s suitability regulations of 2019 has been implemented.
Tracing the History of IRDAI’s Regulations on Suitability and its Interpretations by Market Participants – Part 1
This blog post, which is the first of a two-part series, aims to trace the history of IRDAI’s regulations regarding suitability assessments for life insurance.
A Commentary on Select Recommendations of the Report of the IRDAI Committee on Microinsurance
As per IRDAI (Micro Insurance) Regulations, 2015, the microinsurance business is exempted from customised benefit illustration6 and disclosure norms prescribed in IRDA (Linked and Non-Linked Insurance Products) Regulations. IRDAI’s latest circular on this continues to extend this exemption.
Perspective on IRDA’s proposed ‘everything product’
The Micro-insurance sector has been often in the news in the recent times. This is primarily because of IRDA’s recent recommendation towards an “everything product” approach for which the Life Insurance Council has been asked to prepare a blue-print.
