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

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 insurance coverage.  According to the officials, the agreement has been signed by Mr. Pranab Sharma – Associate Vice President of ICICI Lombard General Insurance and Mr. M.R. Synrem – C.E.O of Megha Health Insurance in presence of Chief Minister Dr. Mukul Sangma and other Government officials.

ICICI Lombard GIC Limited is the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs. 5,358 crore for the year ended March 31, 2012. It is a joint venture between ICICI Bank Limited – India’s 2nd largest bank and Fairfax Financial Holdings Limited, a Canada based diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.

The Meghalaya State Health Scheme, coined as ‘Megha Health Insurance Scheme’ is all set to provide all houses in the state, irrespective of the income groups, with a financial medical coverage up to Rs. 1.60 lakhs per year as against the present coverage of Rs. 30,000 under the R.S.B.Y. This comprehensive State Health Insurance facility is aimed at benefiting close to three million citizens of Meghalaya. Officials also added that the scheme will be clubbed with the existing public health care scheme by empanelling public sector hospitals as well as private ones and engaging the government healthcare providers through rigorous training and performance-based incentives for its effective implementation.