IRDAI panel suggests cyber liability insurance: What kind of losses are covered
4 min read . 20 Jan 2021This cyber liability policy will protect the policyholders from cybercrimes
This cyber liability policy will protect the policyholders from cybercrimes
As per the recommendation, policies issued under the new format will cover all damages resulting from any claim for breach of duty of the insured, fraud and dishonesty of any employee for which the insured becomes legally liable
The committee has recommend inserting a fifth section to motor insurance called, traffic violation premium, in addition to motor own-damage (OD) insurance, basic third-party (TP) insurance, additional third-party insurance and compulsory personal accident premium
The validity of the Regulatory Sandbox Regulations, 2019, which was for two years, expires on 25 July 2021
Best health insurance to buy in 2021
IRDAI said the Standard Fire and Special Perils (SFSP) Policy will be replaced by the three standard products -- Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha and Bharat Laghu Udyam Suraksha
The life insurance industry's growth in the current fiscal is likely to stay flat amid sharp traction seen in the protection business and ₹5 lakh income tax exemption will have a short term negative impact, Kotak Mahindra Life Insurance MD & CEO G. Murlidhar
IRDAI had asked all the life insurance companies to file the product with the IRDAI latest by December 31 this year.