The regulator has also made it clear that in existing products where the cost of hospitalisation is covered, insurers have to make sure that cases related to coronavirus are dealt with expeditiously.
IRDAI has so far received 173 proposals, most of which incentivise wellness in the health insurance space through the use of apps and wearable devices
Non-life insurance companies will face a stiff competition from life insurers
Regulator aims to usher time-bound settlement of claims and eliminate disparity in charges among different for some common procedures
The regulator on Monday issued an exposure draft on guidelines on standardisation of general clauses in health insurance policies contracts
As affordability grows, port to a higher-end health cover or buy a top-up plan
Under the rating mechanism, insurers can charge on the basis of grades based on facilities like number of doctors or equipment in the hospital
The product will be named as Arogya Sanjeevani Policy, succeeded by the name of the insurance company
Irdai, in its order, clarified that neither the insurance broker nor the MISP can create such a panel of insurers for selling motor insurance policies
Surge defies economic slowdown and a pricing and insurance issues, as healthcare is seen as a necessity from consumer's perspective
Rating of hospitals would be an addition of this database, as will lead to more standardisation the health insurance segment
Will you be covered by health insurance in case if you participate in an adventure activity like paragliding, trekking?
Sum insured in health policies should be raised at key life stages and then every 3 years
Non-life companies feel that allowing life insurers to offer indemnity-based plans will increase competition further in the market
The poor are routinely forced to dip into their savings, borrow, delay treatment or receive poor quality care, experts said.
Four out of the seven standalone health insurers have seen stake buyouts either by PEs or strategic players in recent months
While households across income groups are borrowing less to pay for medical costs, the insurance sector has progressively ignored the poor and focused instead on the more lucrative upper-income groups
Irdai said IPPB will also have to put in place a system to identify the postman and grameen dak sevak who has sold an insurance policy
India has so far registered about 20% of the eligible 500 million people, due to lack of public awareness of the scheme and low private sector participation
Think tank plans building up system for middle class, which isn't covered under any health scheme