IRDAI’s proposal will apply to the gross premium of general and standalone health insurance companies. The insurance regulator has also set a limit of 30 per cent for Expense of Management (EoM) A limit of 20 percent can be fixed for the commission of agents of insurance companies. Insurance regulator IRDAI has presented this proposal. … Read more
The proposal to disclose agents’ commission in policy documents was opposed by Life Insurance Corporation of India (LIC) and agents The insurance regulator has already set a deadline of December 2022 for dematerialisation of new insurance policies. This means that by the end of this year, all new policies will have to be issued in … Read more
LIC sees a huge business opportunity in the dematerialization of life insurance policies. LIC has about 70 percent share in the life insurance market. LIC issues about 2 crore new policies every year. Apart from this, the total number of its policies issued earlier is at least 22 crore. LIC can start a depository for … Read more