Tag Archives: IRDAI

The Insurance Regulator and Development Authority of India (IRDAI) has made KYC norms mandatory for buying health, auto, home, etc for the purchase of all new insurance policies. The rule applies to all types of insurance–life, general, and health insurance.  

IRDAI has proposed a standard travel insurance policy with common coverage and policy wordings. Its draft guidelines issued on December 28 stated, ‘The standard product shall have the basic mandatory covers as specified in draft guidelines which shall be uniform across the market. The product may be both an individual product and a group product.’