government · 4 records
Insurance Regulatory and Development Authority of India
IRDAI to test No Insurance No Fuel pilot project with ANPR
The IRDAI is launching a pilot project using automated number plate recognition to enforce mandatory third-party vehicle insurance by restricting fuel sales to uninsured vehicles.
Public Insurance Registry may reset insurance’s data advantage, but challenges remain
The Insurance Regulatory and Development Authority of India proposed a Public Insurance Registry to improve data sharing and transparency in the insurance sector.
IRDAI approves Patanjali acquisition of majority stake in Magma General Insurance
Patanjali Ayurved has received regulatory approval from the Insurance Regulatory and Development Authority of India to acquire a majority stake in Magma General Insurance for approximately Rs 4,500 crore.
Supreme Court directs insurer to pay compensation for accident in Nepal
The Supreme Court of India ruled that Oriental Insurance Company must pay compensation for a motor accident occurring in Nepal, criticizing insurers for using ambiguous policy language to evade liability and directing IRDAI to consider standardizing cross-border coverage clauses.