After the Department of Financial ‘(DFS) intervention, regulatory regulation and development of India authority (Irahaa) prepares to send a show causing insurance companies.
DFS discusses Iraahoni’s intervention about health insurance companies adding highly to health premiums, Zee is reported.
According to Irdanai, seven companies violate the Master Circular of Health Insurance. Many companies do not provide proper information to users, no need to stop claiming, and in many cases, claim payment has been delayed.
Irregularities found in ICICI Lombard General Insurance, HDFC Ergo General Insurance, General Heald Insurance, Niva Health Insurance Company, Irahona said.
Soon, Iraahoni will issue a show causing notice to companies and ask for answers why movement does not take against them.
Zee’s business is the first reporting that DFS alerts about the increase in health insurance premiums.
In February, Irdai asked insurance companies not increasing health insurance premiums for senior citizens for more than 10 percent each year. This method is intended to protect elderly from significant premium sheets while assuring continuous scope.
Read more: Irdanai puts the Cap of Senior Citizen Health Insurance Premium Hike – knowing all about it
