‘Delay in naming IRDAI head causing disruption in India’s insurance sector’

Insiders claim that the backlog of crucial policy considerations as well as routine clearances are getting delayed even as companies themselves are suffering from a possible lack of regulatory oversight.

Original source: https://health.economictimes.indiatimes.com/news/insurance/84815430?utm_source=RSS&utm_medium=ETRSS

Allow life insurers to play bigger role in healthcare ecosystem, HDFC Life chief Parekh urges Irdai

The year started on an uncertain note, the pandemic led to a significant loss of human life and now presents a challenge to public health systems, the way of working and the social norms, Parekh said in his address to shareholders in the company’s annual report for 2020-21.

Original source: https://health.economictimes.indiatimes.com/news/insurance/83890513?utm_source=RSS&utm_medium=ETRSS

Irdai asks health, general insurers to bring standard accident cover from Apr

Insurance regulator Irdai has asked general and health insurance providers to provide standard personal accident cover products to their customers.

Original source: https://health.economictimes.indiatimes.com/news/insurance/81226701?utm_source=RSS&utm_medium=ETRSS

Irdai bars widening of health covers if premiums increase

The Insurance Regulatory and Development Authority of India (Irdai) has said that insurers cannot make any significant changes in coverage of health insurance policies that result in an increase in premium.

Original source: https://health.economictimes.indiatimes.com/news/insurance/81561118?utm_source=RSS&utm_medium=ETRSS

Irdai sees demand for new covers in wake of pandemic

The regulator is considering the formation of an Indian pandemic risk pool with contributions from the country’s insurers and reinsurers. A pandemic pool is required to cover risks because international reinsurers do not provide pandemic cover.

Original source: https://health.economictimes.indiatimes.com/news/insurance/81584916?utm_source=RSS&utm_medium=ETRSS

Irdai asks insures to be more transparent in health insurance claims settlement, specify reasons of denial

"All the insurers shall ensure putting in place systems to enable policyholders track the status of cashless requests/claims filed with the insurer/TPA through the website/portal/app or any other authorised electronic means on an ongoing basis. "The status shall cover from the time of receipt of request to the time of disposal of the claim along with the decision thereon," said the regulator.

Original source: https://health.economictimes.indiatimes.com/news/insurance/81615693?utm_source=RSS&utm_medium=ETRSS