""FLASH NEWS""

"" Listing of state general insurers may be staggered.""...""" New India Assurance launches “New India Premier Mediclaim Policy” with exclusive features and Sum Insured upto Rs. 1 crore""".... “The tentative decrease in D.A. Slabs is 9 for the months from February,2017 to April,2017 - The net number of slabs for Feb.,2017 stands at 469"".."" ALL MEMBERS OF NFGIE/GICEU: PL ENSURE PAYING LEVY ON WAGE REVISION IMMEDIATELY ON RECEIPT OF ARREARS TO THE RESPECTIVE STATE /REGIONAL UNITS TO STRENGTHEN FINANCIAL POSITION OF NFGIE AS WELL AS STATE UNITS OF GICEU""....."" WAGE ARREARS WILL BE PAID ON 05th FEB.,2016""...."" WAGE REVISION FILE WAS CLEARED BY FINANCE MINISTRY ON THURSDAY 14TH JAN.,2016 ONLY. EXPECTING NOTIFICATION AT ANY TIME. HOWEVER, ON TUESDAY 19TH JAN.2016 GIPSA GOVERNING BODY MEETING HELD AT 'GOA'. PAYMENT DATE MAY BE DECIDED BY GIPSA AUTHORITY.""..."" NEXT ROUND OF DISCUSSIONS WITH GIPSA ON 04TH, 5TH & 6TH nOV., 2015 AT HOTEL GOLCONDA,HYDERABAD- NFGIE SLOT FOR DISCUSSIONS ON WAGE REVISION WITH GIPSA AT 2 PM ON 04.11.2015""...""Received a call from Mr A K Singhal, Advisor, GIPSA to our National Federation General Secretary, Mr P S Bajpai regarding the next round of Wage Talks on 29th October 2015 (Thursday) at Mumbai. Detailed Circular follows.""..."" We have been informed by Mr. Vasant Khande,Mumbai that Mr. Ashish Shelar,MLA and BJP President of Mumbai is going to attend our NFGIE conference on 1st October,2015 in Chennai""...""Wage revision and Pension Option – Programme of Agitation::: 1. Lunch Hour demonstrations in all centres on 15th and 23rd September.2. Signature campaign (memorandum addressed to Finance Minister) to complete by 23rdSeptember.;3. No late sitting in offices and no work on Saturdays, Sundays and Holidays w.e.f. 23rd September, 2015;4. Joint Employees meetings in all offices to campaign;5. Perspective of strike actions in October ""......"23RD JULY IS NEW INDIA'S FOUNDATION DAY(23RD JULY, 1919). ON THIS HAPPY OCCASSION, LET ALL NEW INDIANS TO RE-DEDICATE THEMSELVES ONCE AGAIN TO BRING BACK IT'S GLORY AND TO RETAIN NO.1 POSITION WITH PROFITS




""NEW INDIA ASSURANCE BEATS COMPETITION, GETS $9.5 BILLION AIR INDIA DEAL. One of India’s biggest public sector general insurer, New India Assurance (NIA) led consortium of public sector insurance companies has been awarded the contract to insure Air India’s huge fleet of 126 aircrafts worth 9.5 billion dollars. The consortium outbid the tender submitted by private general insurance companies, for this contract floated by Air India. NIA will insure Air India for 9.5 billion insurance cover for a premium of $22.5 million, which would be a one of the biggest aircraft insurance deals in the whole of Southeast Asia. PSU insurers continue to insure Air India for 4th year in a row"".....""Thank u all for staging a successful DHARNA today (06.7.2015) all over India as part of JFTU programme. At Mumbai we met Chairman GIPSA who informed that ministry is insisting on wage settlement on bank line only. Still they are pursuing with the ministry for getting sanction for a better package for PSGI Companies citing various factors. Due to this GIPSA is delaying resumption of wage negotiation. More stringent TU action is needed by JFTU against Ministry of Finance stand. JFTU will decide its further programme....Than 'Q'...Sujit Bagchi,General Secretary, "NFGIE""...""


TOTAL WEB VIEWERS

Thursday, October 6, 2011

'TPAs Acting as Insurance Firms'

Dear Viewers,
Third party administrators (TPAs) are functioning as de facto insurance companies and settling mediclaims that they are not authorized to do, the Bombay high court was told on Tuesday 29th Sept, 2011.

A division bench of Chief Justice Mohit Shah and Justice Roshan Dalvi was hearing a petition filed by social activist Gaurang Damani highlighting the plight of more than 7 crore consumers of medical insurance, especially after TPAs stopped offering cashless benefits. The Insurance Regulatory Development Authority, the regulatory body, has filed an affidavit stating that it was not a silent spectator to the dispute that arose between insurers and hospitals and the row had been settled; the hospitals have now agreed to negotiate treatment rates, IRDA advocate Paritosh Jaiswal has submitted in court, adding that approximately 170 hospitals in Mumbai are now offering cashless benefits.

However, Damani cited 1,500 nursing homes and hospitals in the city that have stopped offering the cashless facility. "Cashless was the best option for mediclaim policy holders. Suddenly, in July 2010, the offer was withdrawn," said Damani, adding that every year, premiums of Rs 11,000 crore were paid as medical insurance.

According to him, medical insurance was not classified as life or general insurance policies and there is no specific guideline to process the claims. "Settling claims is the core activity of insurance companies and not that of TPAs, who are mere intermediaries," said Damani. "TPAs are acting as de facto insurance companies and even writing cheques to consumers." Damani says TPAs are offered financial incentives to reduce claim ratio and given discretionary powers that they abuse to settle the same claims at different rates.

He cited instances where TPAs had settled for different rates when they claimed reimbursement for the same illness at the same hospital. TPAs have also reportedly held on to cheques, delaying payments to consumers. "The TPAs operate arbitrarily," added Damani.

The judges have now directed Damani to prepare a note, suggesting some ways to resolve the problem amicably, and submit it in 10 days.
.....EDITOR

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