By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Latest World News UpdateLatest World News UpdateLatest World News Update
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Legal Talk
Reading: IRDAI introduces “Customer Information Sheet” to simplify policy details for buyers – World News Network
Share
Notification Show More
Font ResizerAa
Latest World News UpdateLatest World News Update
Font ResizerAa
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Legal Talk
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > Business > IRDAI introduces “Customer Information Sheet” to simplify policy details for buyers – World News Network
Business

IRDAI introduces “Customer Information Sheet” to simplify policy details for buyers – World News Network

worldnewsnetwork
Last updated: June 12, 2024 12:00 am
worldnewsnetwork 12 months ago
Share
SHARE

New Delhi [India], June 12 (ANI): In order to simplify the insurance landscape, the Insurance Regulatory and Development Authority of India (IRDAI) has introduced major reforms in motor, health and home insurance segments. The new set of reforms has introduced Customer Information Sheet (CIS) to provide clear and concise policy details including scope of coverage, exclusions, warranties, and claim settlement processes.
The regulator in a release called Reforms in General Insurance Business, said these measures will be helpful to simplify the insurance sector, effectively enhancing the customer-centric insurance solutions. The reforms will help insurers in their operations, it added.
As per the new rules, the consumers will have option to choose for insurance policies of half yearly, annual, or even more than a year, providing more choices to fit individual needs and preferences.
IRDAI has introduced a Customer Information Sheet (CIS) to provide clear and concise policy details including scope of coverage, exclusions, warranties, and claim settlement processes.
No claims of the insurance will be cancelled citing the lack of documents. The customer may be asked to
submit only those documents necessary and related to claim settlement, as per the new rules.
Retail customers can cancel the policy anytime by informing the insurer. The policy can be cancelled by the insurer only if it involves fraud. The customer will receive refund proportionate to the premium amount on the unexpired policy period on cancellation.
Insurers will have to offer pay-as-you-drive and pay-as-you-go options to customers as their first choice in motor insurance policies.
Homeowners “fire” policy will have the option to choose add-on covers such as flood, cyclone, earthquake, landslide, rockslide, terrorism or to opt-out from comprehensive fire and allied peril policy. (ANI)

Contents
WORLD MEDIA NETWORKPRESS RELEASE DISTRIBUTIONPress releases distribution in 166 countriesPress releases in all languagesPress releases in Indian LanguagesIndia PackagesEurope PackagesAsia PackagesMiddle East & Africa PackagesSouth America PackagesUSA & Canada PackagesOceania PackagesCis Countries PackagesWorld Packages

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

Mission Possible with Avaada: Inspiring Collective Climate Action on World Environment Day – World News Network

CCPA issues advisory to E-Commerce platforms for self-audit within 3 months to detect dark patterns – World News Network

Andhra Pradesh and Nvidia sign MoU to advance growth of AI ecosystem – World News Network

India Ramps Up Community Preparedness for Disasters: CBDM India 2025 in Bengaluru to Champion Health Resilience and Local Response – World News Network

Against the Odds: CGC Jhanjeri Surges Ahead with Historic 2025 Placements – World News Network

Share This Article
Facebook Twitter Email Print
Previous Article “Has long political career”: MP CM Mohan Yadav congratulates Odisha CM-designate Mohan Majhi – World News Network
Next Article Amit Shah, JP Nadda arrive in Itanagar for oath ceremony of Arunachal Pradesh CM-designate Pema Khandu – World News Network
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
4.4kFollowersFollow
- Advertisement -

Latest News

Federal govt will step in, says Trump amid tensions in Los Angeles over immigration operations – World News Network
World 3 hours ago
Colombian presidential candidate Miguel Uribe shot in Bogota – World News Network
World 3 hours ago
PTI cannot afford to launch similar movement like in past, says Pak PM’s aide – World News Network
World 3 hours ago
Manipur govt suspends internet services in 5 districts for five days – World News Network
National 3 hours ago

Sports

Magnus Carlsen remains the undisputed King; wins record 7th title at Norway Chess – World News Network
Sports
“Garden ki toh yaad aayegi”: Pant as Team India reaches England for Test series – World News Network
Sports

Popular Category

  • Business
  • Entertainment
  • Health
  • National
  • Videos
  • Gujarati

Popular Category

  • Hindi
  • Lifestyle
  • Marathi
  • National
  • Science
  • Sports
  • Tech
  • World

Entertainment

“We weren’t best of friends…”: Sonali Bendre on working with Salman Khan in ‘Hum Saath-Saath Hain’ – World News Network
Entertainment
Check how much money ‘Housefull 5’ made on opening day – World News Network
Entertainment
Copyright © 2023 World News Network. All Rights Reserved.
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?