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Postmen, Grameen dak sevaks may soon start selling insurance policies

Friday, December 6, 2019, 4:05 PM

Postmen and Grameen dak sevaks might soon be able to sell insurance policies, with regulator Irdai issuing guidelines wherein such people have to be sponsored by the India Post Payments Bank(IPPB). The IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and Grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS), Irdai said.
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IRDAI extends deadline for life insurers to withdraw old products

Monday, December 2, 2019, 4:44 PM

The Insurance Regulatory and Development Authority of India(IRDAI) earlier this year had brought in significant changes to regulations related to both non-linked life insurance products and ULIPs. The regulator had asked insurance companies to withdraw products and insurance riders that are not in agreement with the new product regulations, by November-30th this year. However, IRDAI has now extended the deadline to January 31, 2020.
 
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Irdai proposes changes in vehicle depreciation calculation

Tuesday, November 26, 2019, 3:17 PM

The IRDAI, proposed changes to the structure of motor insurance policies that can make it simpler. And also, you will get the partially-higher amount of insurance cover for your vehicle. For vehicles older than three years, depreciation would gradually increase from 40% to 60% up to 7 years. Beyond seven years, the sum insured could be negotiated with the insurer.

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