IRDA nominates members for Health Insurance Forum

The Insurance Regulatory and Development Authority has nominated Mr M. Rama Prasad, Member (Non-Life), as the Chairman of the Health Insurance Forum.

The chairman and managing directors of Life Insurance Corporation of India, New India Assurance Company, Star Health and Allied Insurance Company, Chairman of General Insurance Public Sector Association, chief executive officers of ICICI Lombard General Insurance Company, Bajaj Allianz Life Insurance Company were also nominated as industry representatives.

From the third-party administrators, the heads of Raksha TPA and India Healthcare Services Pvt Ltd were nominated as per an order issued by the regulator.

The IRDA constituted the forum last month to act as a consultative body for all stakeholders.

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.