In Debasish Panda's last board meeting as chairperson of the Insurance Regulatory and Development Authority of India (Irdai), the regulator approved the "R2" licence for Kamlesh Goyal and Prem Watsa-backed Value Attics Reinsurance, making it the first private-sector Indian reinsurer after GIC Re, the public-sector reinsurer. "The authority reviewed and approved the R2 application of Value Attics Reinsurance, making it the first private-sector reinsurer after GIC Re, the public-sector reinsurer.
Purchase health insurance early while you are disease-free. 'It might become very difficult to get a comprehensive health cover for someone who has already had cancer.'
Follow these steps to avoid last-minute surprises while claiming your mediclaim -- via cashless or reimbursement method, says P V Subramanyam
Bank of New York Mellon Corp has pulled out of providing financial services to the Adani group and its Carmichael coal mine in Australia, saying the venture is incompatible with its environmental, social and governance rules.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
The Union Cabinet on Wednesday gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
For insurance intermediaries like brokers, insurance repositories, third-party administrators, etc, 100 per cent FDI may be permitted.
It will help in reducing the turnaround time.
Finance Minister Nirmala Sitharaman in his Budget speech said that India's FDI inflows in 2018-19 grew by 6 per cent to $64.37 billion.
The Reserve Bank said overseas investors, including FPIs and NRIs, can invest up to 26 per cent in insurance and allied activities through the automatic route.
The Delhi high court on Wednesday said it appeared that the Centre wanted people to die as according to the new protocol on use of Remdesivir for Covid-19 treatment, the drug was to be given only to those on oxygen support.
While the four general insurers will have equal stake in the TPA, Life Insurance Corporation and General Insurance Corporation might hold a less stake.
According to data analysed by the Insurance Regulatory and Development Authority, the claim severity is 83 per cent higher in case of cashless mediclaim than reimbursement in the last two years.
The private sector hospitals and PSU insurers are likely to arrive at an interim settlement on restoration of cashless treatment facility at major hospitals in the country from Friday.
Hospitals and state-owned insurers will take a few more days to reach a deal on resuming cashless mediclaims in all city hospitals.
In order to improve the quality of service rendered by third-party administrators, a committee formed by the Insurance Regulatory and Development Authority has recommended that general insurers should hire at least two agencies to execute back office jobs for settlement of health insurance claims. In addition, to improve the coverage and quality of services provided by TPAs, the panel has suggested that the minimum capital requirement should be doubled.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
The National Confederation of General Insurance Officers' Association urged the Finance Minister Jaswant Singh to explore the possibility of setting up a subsidiary health insurance company to manage the health portfolio.
The Insurance Regulatory and Development Authority on Wednesday warned third-party administrators (TPAs) on not settling health insurance claims in time and said rules will be tightened to ensure prompt payment.
Govt could cut the GST rate payable every time someone buys a health insurance product; or it could also provide a larger income tax set off for those who buy a health insurance product
Now that cashless is once again the national buzzword, Harjot Singh Narula explains what you must know about cashless treatment under health insurance plan
Customers should be fully aware of what their policy covers and should follow claim procedures meticulously, says Sanjay Kumar Singh.
While buying health policies, customers should reveal any pre-existing diseases. This is the only way to ensure that the insurer does not reject claims.
Mahavir Chopra explains the pitfalls one may face after buying a day care insurance policy
The first step that has been taken by IIB is to bring out unique identity numbers for hospitals.
Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
ICICI Prudential has tied up with the healthcare service provider to enable investors in its ICICI Prudential Savings Fund use the money seamlessly for medical purpose.
There are instances where the insurance company will not pay out claims... Beware!
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
The GST to be implemented from April 1, 2016, will increase the premiums.
To plug claims mismanagement, the Insurance Regulatory and Development Authority of India (Irdai) is bringing reforms in the mediclaim segment.
As a result of the mass state-led scheme, the processes in the health insurance market could get simplified over time and become uniform
Aslam Hunani presents some of the frequently asked questions about health insurance in India.
They say new rules that make over-billing by private hospitals a criminal offence will hurt their ability to treat patients properly, says Subir Roy.
IRDA suggested that health insurance should cover alternative treatments.
Health insurance has almost 23 per cent market share in the general insurance space.
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