IRDAI has said there could be higher solvency requirement for group health segment.
The Insurance Regulatory and Development Authority of India (IRDAI) is planning massive changes in health insurance policies, according to a media report. Among the changes include offering more incentives for healthy policy holders and a level playing field for life and non-life insurers, the report added. In its draft norms on health insurance, IRDAI has said there could be higher solvency requirement for group health segment. The insurance regulator has already shared these draft norms on health insurance with companies. Insurers will also be able to reward customers who maintain a good level of fitness with better insurance rates. Although these norms are at a draft stage, IRDAI will finalise it in the next few months after which it will be implemented, the report further said.
...source iins
The Insurance Regulatory and Development Authority of India (IRDAI) is planning massive changes in health insurance policies, according to a media report. Among the changes include offering more incentives for healthy policy holders and a level playing field for life and non-life insurers, the report added. In its draft norms on health insurance, IRDAI has said there could be higher solvency requirement for group health segment. The insurance regulator has already shared these draft norms on health insurance with companies. Insurers will also be able to reward customers who maintain a good level of fitness with better insurance rates. Although these norms are at a draft stage, IRDAI will finalise it in the next few months after which it will be implemented, the report further said.
...source iins
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