New Delhi, March 26 (IANS) India’s health insurance sector has recorded strong growth, with total premiums crossing Rs 1.2 lakh crore in 2024-25, the government said on Thursday.India’s health insurance sector continues to expand steadily, growing at around 9 per cent annually, driven by increasing awareness, better access to healthcare financing and a rising need for financial protection against medical expenses.To improve efficiency and ensure faster support to policyholders, the Insurance…
Latest Insurance Regulatory and Development Authority of India News & Updates
New Delhi, March 24 (IANS) The government has stepped up efforts to help citizens reclaim over Rs 73,000 crore lying unclaimed across banks, insurance companies and mutual funds, with regulators rolling out simplified claim processes, digital tracking platforms and nationwide awareness drives, the Parliament was informed on Tuesday.Minister of State for Finance Pankaj Chaudhary said in Rajya Sabha that unclaimed deposits with public sector banks have crossed Rs 60,500 crore, while regulators are…
New Delhi, March 24 (IANS) The National Human Rights Commission (NHRC) has taken cognisance of a complaint alleging that persons with hearing and speech disabilities are being denied access to life insurance benefits due to the refusal of insurance companies to extend coverage to them.According to the complaint received by the Commission, individuals with such disabilities are unable to avail themselves of life insurance policies, raising concerns over discriminatory practices within the insuran…
Mumbai, March 11 (IANS) In response to growing complaints regarding difficulties in health insurance claim approvals and exorbitant medical billing by private hospitals, Maharashtra’s Minister for Public Health and Family Welfare Prakash Abitkar on Wednesday issued strict directives stating that both insurance companies and hospitals must operate with the patient at the centre of their services.At a meeting with the Insurance Regulatory and Development Authority of India (IRDAI), major private…
Jaipur, Feb 9 (IANS) Rashtriya Loktantrik Party (RLP) President and Nagaur Lok Sabha MP, Hanuman Beniwal, on Monday, raised a query in the Lok Sabha regarding GST reforms on personal life insurance and health insurance policies. He said that despite the Union government reducing GST to zero on these insurance products, insurance companies in Rajasthan and several other states have increased base premiums by 8 to 12 per cent.Nagaur MP Beniwal asked the Union government on what concrete action pla…
Gandhinagar, Jan 19 (IANS) Under the nationwide financial awareness drive titled ‘Your Money, Your Right’, more than Rs 104 crore has been returned to original account holders in Gujarat, reaffirming the principle that every rupee saved by citizens rightfully belongs to them and their families.The campaign was formally launched in October 2025 from Gandhinagar, the capital of Gujarat, in the presence of Union Finance Minister Nirmala Sitharaman, who flagged off the initiative at the national lev…
New Delhi, Jan 19 (IANS) The mid‑term annual premium growth in India is expected to touch 6.9 per cent between 2026 and 2030, making it the strongest growing major insurance market, a report said on Monday.The report from reinsurance company Swiss Re said the Indian insurance sector is entering a new era of robust mid-term growth, driven by strong macroeconomic fundamentals and rising consumer demand.The reinsurer forecasted life insurance to grow about 6.8 per cent annually, health insurance …
New Delhi, Dec 29 (IANS) The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of Rs 1 crore on Reliance General Insurance Company for violating several regulatory norms related to insurance intermediaries, outsourcing of activities and corporate governance.The action comes after a remote inspection carried out by Insurance Regulatory and Development Authority of India between December 27 and December 31, 2021.Based on the findings of this inspection, the regu…
New Delhi, Dec 26 (IANS) The government has succeeded in returning to the rightful owners a total amount of nearly Rs 2,000 crore that was stuck as “unclaimed savings” across banks, insurance, mutual funds, dividends, shares, and retirement benefits held within the regulated financial system, according to an official statement issued on Friday.The funds have been restored through the Centre’s “Your Money, Your Right” nationwide awareness and facilitation initiative, launched in October 202…