The new members inducted into IAC are, MR Kumar, former chairman, LIC and currently non-executive chairman of Bank of India, Dinesh Kumar Khara, former chairman, State Bank of India, Vishakha Mule, CEO, Aditya Birla Capital, Nilesh Shah, MD, Kotak Mahindra Asset Management Company, Alice G Vaidyan, former CMD ,GIC Re and an independent director in Air India and Tata AIA Life Insurance
Hyderabad: The Indian insurance regulator IRDAI has inducted a few more members from diverse sectors to its Insurance Advisory Committee to fill up some vacancies in the advisory body.
IAC advises IRDAI on matters related to insurance regulations.
The new members are, MR Kumar, former chairman, LIC and currently non-executive chairman of state owned Bank of India, Dinesh Kumar Khara, former chairman, State Bank of India, Vishakha Mule, CEO, CEO of Aditya Birla Capital Limited, Nilesh Shah, MD, Kotak Mahindra Asset Management Company, Kotak Alice G Vaidyan, former CMD ,GIC Re and an independent director in the boards of Air India and Tata AIA Life Insurance.
The IAC is a body established by the IRDAI, consists of members representing various sectors like commerce, industry, and consumer groups, with a maximum of 25 members excluding ex-officio members.
Copay of 30% levied by some of the insurance companies is a great injustice to policyholders especially that clause was not there while taking the policy. IRDAI’s intervention is required. Another point while settling the claims, settlement details are not given by email and insurers are putting it in a link but on checking the link, it is not accessible which is like cheating policy holders. These 2 points may be considered.
WHEN ANY INSURED ADMITTED IN HOSPITAL,HARASSED and MISGUIDED BY HOSPITAL ON UNEHTICAL BILL,BUT INSURER DOES NOT TAKE ANY SUITABLE STEPS, AGAINST WRONGDOING HOSPITAL,PARALALLY AGENTS ARE ALSO HARRASED LIKE ME.PLEASE INTERVEN IMMEDIATELY.
Copay concept is totally against the insurance basic concept risk of one person shared by all members having similar risk.
Sir, also u see clause 4.2 which doesn’t pay a single coin for permanent exclusions disease
Sir u just see and comment
IRDAI should consider representation from all intermediaries associations in India, which can highlight original scenario regarding the facts happening with policyholders of health policies but also in other segments of the insurance industry.
Agents are the first line of the selling process of the insurance products. Then their representatives must be included in such committee. Otherwise the original picture will not be clearly disclosed.
Hospital is not returning health test reports and scanned films. They are saying it is a normal practice for an insurance company to retain these reports with itself. Patient may need these reports for the future treatment. IRDA must instruct insurers not to keep these reports with themselves.
Endorse the view
We couldn’t understand why advisory committee member is generally from highly placed group as if they are fully aware of the problems encountered Insurance Organisations. There must be contributions from middle class group who knew the real problems, expected modifications etc. from Ins. Organisations.
Health insurance should not attract GST.Is it not against the interest of common man?
.
Absolutely right. Policy is taken in the name of an individual why compel another person even if he is blood relative to co-pay? Secondly why all hospitals are demanding deposit even if Mediclaim is there which is informed to hospital during emergency admission? Thirdly what is the logic behind this why hospital is compelling to pay this deposit before admission even in case of emergency?
The patient will have to pay every medical bills before discharge that being the position why admission is denied.
I fully agree with Mr.P.C.Verghesr and his point raised should be addressed immediately.
How many Members as Advisors are taken into IAC among Agents and Their Federations/Unions? If Real Advisory is required then Agents Representatives from their Federations/Unions must be included in the Insurance Advisory Council to have realistic and onhand experience and advice!
I am an insurance adviser and want to be inducted into IRDAI’s Insurance Advisory Committee.
First u put ur opinion for what u want to become member advisor
You advise me why In health insurance a clause 4.2 is necessary here some comments r reacting about Co pay but sir clause 4.2 is excluding to pay a single coin to insured
First u put ur opinion for what u want to become member advisor
You advise me why In health insurance a clause 4.2 is necessary here some comments r reacting about Co pay but sir clause 4.2 is excluding to pay a single coin to insured
You advise me why In health insurance a clause 4.2 is necessary here some comments r reacting about Co pay but sir clause 4.2 is excluding to pay a single coin to insured