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Insurance News on Health Insurance

Traditional treatment now to be covered under mediclaim insurance policy

May 15, 2013 - 05:12 PM

Market regulator Insurance Regulatory and Development Authority (IRDA) in its official gazette included the Indian System of Medicines in the mediclaim insurance policy. This new regulation, which came into effect from February 18, 2013, stipulates a condition that insurance cover for non – allopathic treatment will be available only if the cure is taken from a government hospital or any other institution recognized by the government or is accredited by Quality Council of India, National... Read More »

Posted in Health Insurance | 22 Views | Write a Comment »

IRDA approves 20 percent hike in Health Insurance Premium

May 03, 2013 - 01:08 AM

Mr. G. Srinivasan, Chairman – New India Assurance Company Ltd., announced the 20% hike in health insurance premium effective June 2013. This announcement was made after insurance regulator Insurance Regulatory and Development Authority (IRDA) approved the hike in premium amount for policies issued by the Company.

New India Assurance Company, a leading insurance company with branches across India and overseas with a network of 1068 offices, 28 Regional offices, 393 Divisional offices and 648... Read More »

Posted in General Insurance , Health Insurance | 117 Views | Write a Comment »

Health Insurance to become more expensive

January 30, 2013 - 01:03 PM

In order to meeting the growing cost, market regulator Insurance Regulatory and Development Authority (I.R.D.A) is moving swiftly with a plan to augment the premium fee for health insurance. Once the regulator approves the proposal, Public sector non life insurance companies are set to raise the premium amount by 20 – 25%. The rates were last revised by I.R.D.A. 5 years ago and lastly public sector non life insurance companies are demanding rates revision from several months.

According to State... Read More »

Posted in Health Insurance , IRDA | 285 Views | Write a Comment »

Differential pricing policy launched by Max Bupa

January 30, 2013 - 07:48 AM

Max Bupa launches a health policy Health@Companion, which can be purchased online also, a differential rate policy, wherein premium is based on the area in which the buyer of policy stays. This policy has a three – tiered rate wherein customers living in metros will pay the highest premium, and then comes the state capitals and finally the remaining part of the country. The premium will be less for policy holder residing in Tier II and Tier III cities. This policy is particularly useful for... Read More »

Posted in Max Bupa , Health Insurance | 241 Views | Write a Comment »

Tata AIG reduces Claim Approval timeframes from 6 Hours to 4 Hours

January 22, 2013 - 08:20 AM

Tata AIG General Insurance Company, a private insurer, which is relatively new into the health business has introduced a new concept of Claim Approval Service within 4 hours vis-à-vis the generic norm of 6 hours. The introduction of this characteristic will prevent a medical urgent situation from becoming a monetary load onto the customer and would help them in times of need! Tata AIG is a new entrant in the health business and had introduced their first product about 10 months ago and being... Read More »

Posted in Tata AIG General , Health Insurance | 236 Views | Write a Comment »

Medical premium rate hike on cards by National Insurance Company

January 20, 2013 - 06:19 PM

Sources from State owned National Insurance Company told that in order to mitigate the losses, the company could hike the rates of health insurance premium and according to the sources from their head quarter; this increase can range from 20% to 40%. Further on this, Mr. Ashok K. Roy, Chairman of General Insurance Corporation said that there is an urgent need for raise of health tariff for insurance companies and at the same time hospital should reduce their cost.

National Insurance Company... Read More »

Posted in National Insurance , Health Insurance | 260 Views | Write a Comment »

IRDA proposes uniform clarification on pivotal terms in health insurance

January 18, 2013 - 04:04 PM

Market regulator Insurance Development and Regulatory Authority (IRDA) has come out with a standard definition of various key terms like critical illness with a view to bring in uniformity and promote health insurance. These standard terms will revoke ambiguity; capacitate all stakeholders to yield improved services. IRDA has defined 46 commonly used terms in health insurance and standardized the definition of 11 critical illnesses.

IRDA is an autonomous statutory body enacted under the act... Read More »

Posted in Health Insurance , IRDA | 333 Views | Write a Comment »

ICICI Lombard is now the official Health Insurance Provider to the Government of Meghalaya

December 04, 2012 - 10:31 AM

ICICI Lombard has signed an agreement with the Government of Meghalaya for providing Health Insurance facilities to the citizens of the state. In order to make available cashless treatment of specific high cost and recurrent illnesses, the Government of Meghalaya had invited tenders from various insurance companies. Based on the bidding received, the Government of Meghalaya, in consultation with International Finance Corporation and the World Bank, selected ICICI Lombard for providing health... Read More »

Posted in ICICI Lombard , Health Insurance | 1036 Views | Write a Comment »

Religare Health Insurance launches operations formally

October 12, 2012 - 06:59 PM

Religare Health which comprises of Religare Enterprises Limited, Union Bank of India and Corporation Bank announced their formal launch as a standalone health insurance company in India. This takes the tally of standalone health insurance companies to four now.

Religare Health Insurance

Religare Health with its punch line ‘Ab Health Hamesha’ held a press conference on 11th October at Hotel Trident, Mumbai to announce the formal launch of its operations.

Headquartered in New Delhi, Religare Enterprises Limited... Read More »

Posted in Health Insurance | 900 Views | Write a Comment »

Your health insurance policy may be expensive on next renewal

September 22, 2012 - 01:10 PM

Public sector insurance companies are discussing the possibility of increasing the premiums for their health insurance policies – individual as well as group. The government has made repeated requests to the PSU insurers to align their processes and get the business profitable. The PSU companies haven’t altered their premium rates for many years now in spite of increasing cost of medical treatments.

Oriental insurance was the first general insurance company out of the four public-sector giants... Read More »

Posted in Health Insurance | 461 Views | Write a Comment »

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