The broking licence will allow the company to venture into segments like claims assistance, offline services, and establish points of presence network.
IRDAI asked the respective insurers to ensure that their empanelled hospitals that have agreed to offer cashless claims honour that including for treatment of Covid cases
The Insurance Regulatory and Development Authority of India (IRDAI) had also issued various directions and advisories to Future Generali India on several regulatory violations.
The FDI limit in the insurance sector, the minister said, has increased significantly after the government decided to raise the cap from 26 per cent to 49 per cent in 2015.
It it essential that all insurers establish procedures to let policyholders get clear and transparent communication at various stages of claim process, Irdai said in a circular.
The applicant should not be below the rank of a Chief General Manager of the Reserve Bank of India or equivalent thereto in other financial institutions or regulatory bodies, it said.
The working group, set up by the Insurance Regulatory and Development Authority of India (IRDAI) in June to recommend suitable insurance products for drones, suggested various procedures to be followed and the documentation required in the event of a claim
