Irda Calls Tpas For Final Meet On July 23
The Insurance Regulatory and Development Authority (IRDA) has called the third-party administrators (TPAs) for a final meeting on July 23 to deliberate on broad-basing of their functions, finalising the capital requirements, and the parameters with regards to the infrastructural requirements of hospitals and dispensaries.
In a letter addressed to the TPAs, the insurance regulator has stated that the draft regulations is likely to undergo a material change in view of revised proposals of insurance companies.
The letter said that it had been decided to call for a final meeting of the representatives of the TPAs and insurers to discuss the following key issues: capital requirements of TPAs; parameters regarding the medical requirements of hospitals, dispensaries, etc, which would be recognised as eligible for consideration for TPAs to interact; medical personnel requirements of the TPAs; other infrastructural requirements of the TPAs; and standard terms of treatment / diagnosis in respect of certain recognised ailments / diseases.
The insurance watchdog on Tuesday met with non-life insurance players where it is understood that the state insurers strongly voiced their views against the marketing of products by TPAs. While nationalised insurers would like to have a broad-basing of the functions of the TPAs, the letter sent by the regulator highlighted that TPAs will not be permitted to market products.
In its communiqu