The Insurance Regulatory and Development Authority of India (IRDAI) has levied a fine of ₹3.39 crore on Star Health & Allied Insurance for failing to adhere to cybersecurity regulations. The penalty was revealed by the company in a regulatory submission to the National Stock Exchange (NSE), where it admitted shortcomings
During the Foundation Day event of the Insurance Brokers Association of India (IBAI), IRDAI Member (Distribution) Satyajit Tripathy tackled an important issue regarding how improved grievance redressal can enhance insurance penetration in India. Tripathy highlighted that trust is fundamental to the insurance industry. He cautioned that if the existing trust
India’s ₹74 lakh crore mutual fund sector is preparing to embrace two new players Abakkus Asset Management and Choice International as both received preliminary approval from SEBI to start their mutual fund operations. Established by well-known fund manager Sunil Singhania, Abakkus AMC is presently active in the PMS and AIF
SEBI has released a mandate requiring investors in Special Investment Funds (SIFs) to keep a minimum investment of ₹10 lakh consistently. Mutual funds and Asset Management Companies (AMCs) must now track this threshold daily to ensure adherence and avoid violations resulting from redemptions or other transactions initiated by investors. If
With Tesla gearing up to enter India’s electric vehicle market, the automaker might not implement its trademark telematics insurance model because of the Digital Personal Data Protection Act (DPDPA) and the awaiting IRDAI sanction for usage-based insurance (UBI). Rather, Tesla is expected to utilize a China-like strategy by collaborating with
TCS’s choice to terminate over 12,000 workers has sparked worries, particularly regarding the loss of employer-provided group health cover typically the sole coverage for senior parents. When an employee leaves, these policies generally become inactive. Due to the expensive nature, restricted accessibility, and lengthy waiting times for health insurance for
The Insurance Regulatory and Development Authority of India (IRDAI) has suggested a new requirement for all insurers to designate an Internal Ombudsman (IO), as per draft guidelines issued on July 25, 2025. This action seeks to enhance the effectiveness of grievance resolution, minimize wait times, and provide a more autonomous
UK Visas and Immigration (UKVI) is developing a digital immigration system, replacing physical documents with an online record of immigration status – known as an eVisa. UKVI will start to phase out the use of physical vignettes (the sticker in a passport that shows permission to enter and stay in
A recent study conducted by the Insurance Awareness Commission (IAC) reveals that life insurance is the most acknowledged financial product in India, achieving 100% awareness, in contrast to 92% for health insurance and 72% for mutual funds. Interestingly, 57% of those surveyed identified financial security as the primary motivation for
The Wealth Company Mutual Fund has submitted Scheme Information Documents (SIDs) for four new schemes to SEBI, signifying its official entry into the Indian mutual fund sector. The offerings consist of a flexi cap fund, an arbitrage fund, a thematic fund, and a fixed income scheme—showcasing a varied product strategy
