IRDAI directs insurers for prompt action on Covid-19 claims
NEW DELHI: The Insurance Regulatory and Development Authority of India (IRDAI) has directed insurance companies to convey their decision on authorisation for cashless treatment for Covid-19 claims to the hospital within a period of 60 minutes from the time of the receipt of authorisation request, along with all necessary requirements from the hospital. Further, the […]
IRDAI proposes changes in insurance advertisement regulations
NEW DELHI: In a bid to protect consumers, regulator IRDAI has proposed to prohibit insurers from issuing advertisements that make claims which are beyond reasonable expectations of performance. The unfair and misleading advertisements will include those which fail to clearly identify the product as insurance and describe benefits that do not match the policy provisions, […]
Health insurance claims not contestable after 8 year of premium payment: Irdai
NEW DELHI: Health insurance companies will not be allowed to contest claims once the premium has been paid for a continuous period of eight years, regulator Irdai said in a fresh set of guidelines. Irdai said the objective of the guidelines is to standardise the general terms and clauses incorporated in indemnity based health insurance […]