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Friday, February 3, 2012

IRDA forms Health Insurance Forum for consultation

The Insurance Regulatory and Development Authority has formed a Health Insurance Forum to act as a consultative body for all stakeholders.

“In view of the growth in the health insurance industry, it is necessary to create a forum for an effective dialogue between hospitals, insurance companies, third-party administrators and consumer,” Mr J. Hari Narayan, Chairman, IRDA, said in an order issued here.
Role of forum

The functions of the forum will be to advice and assist the regulator in evolving health insurance regulations and facilitate the creation and adoption of standard processes and definitions in health insurance.

The members of the forum would include six chief executive officers of insurance companies, and representative of the Ministry of Health and Family Welfare.

Each nominated member will have a term of two years, and the forum is expected to meet at least twice a year, Mr Hari Narayan said.


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