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ICICI Lombard, Star Health & NIA bid for insurance scheme for poor

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ICICI Lombard, Star Health & NIA bid for insurance scheme for poor

Three general insurance companies - ICICI Lombard, Star Health Insurance and New India Assurance - have bid for a lucrative Maharashtra government health insurance scheme for poor, a scheme the general insurance council (GIC) said companies should 'desist' from because of a 'refund' clause.

The GIC is a statutory body under the Indian Insurance Act 1938 and represents all non-life insurers in the country.

There are 22 general insurance companies in India. Most of them abided by the GIC directive but others went ahead and submitted bids for the Rajiv Gandhi Jeevandayi Arogya Yojana (RGJAY) scheme of the Maharashtra government.

RGJAY's CEO, K Venkatesham has confirmed to Economic Times that ICICI Lombard, Star Health Insurance, and public sector New India Assurance, are the three final contenders.

 

Rs.150-cr for new insurance scheme in TamilNadu

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Rs.150-cr for new insurance scheme

A sum of Rs.150 crore has been allotted initially against newly-formulated Chief Minister's Comprehensive Health Insurance Scheme, Finance Minister O. Panneerselvam announced in the Assembly on Thursday.

The old insurance scheme of the DMK regime was terminated, but to benefit patients in the bridge period between suspending the old scheme and launching the new one, a sum of Rs.100 crore was separately allocated, Finance Secretary K. Shanmugam said in his post budget briefing.

The government will focus on improvement of primary health care facilities in urban areas. The 60 centres already sanctioned under the National Rural Health Mission, will be shifted under the administrative and technical control of the Directorate of Public Health. Further, the Finance Minister announced that Urban Primary Health Care centres will be set up in 75 more small urban towns. A super-speciality centre, at a cost of Rs.100 crore, would be set up in Annal Gandhi Government Hospital, Tiruchi.

 

Gynae disorders must be covered by mediclaim

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District Consumer Forum Orders Gynae Issues to be covered under Mediclaim

CHANDIGARH: In a path-breaking order, UT consumer forum has ordered that insurance companies cannot deny medical reimbursement for gynaecological diseases. Forum also held that if the claimants are illiterate and terms and conditions of the policy are not read out to them, the insurance company would be liable to reimburse the claim.

While pronouncing the order, forum president Lakshman Sharma directed Bajaj Allianz Insurance Company to honour the medical claim worth Rs 32,205 and pay Rs 17,000 as compensation and cost of litigation to Sector-37 resident Ajay Saini. Complainant's wife had suffered severe abdominal pain in February 2010.

While pronouncing the order, forum president Lakshman Sharma directed Bajaj Allianz Insurance Company to honour the medical claim worth Rs 32,205 and pay Rs 17,000 as compensation and cost of litigation to Sector-37 resident Ajay Saini. Complainant's wife had suffered severe abdominal pain in February 2010.

 

Ayurveda, unani treatments under mediclaim umbrella

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Ayurveda, unani treatments under mediclaim umbrella

Till some time back, health insurance policies used to cover only allopathy treatment while ayurveda, homeopathy, naturopathy and unani treatments were left out of the ambit. Despite having a comprehensive health insurance plan in place, individuals who preferred such systems had to pay out of their own pockets.

These policyholders can now breathe easy as some insurance companies have started including such alternative forms of treatment under their cover, especially ayurveda. "Ayurveda being the most prevalent of the alternate systems, we have designed a product to cover treatments under ayurvedic hospitalization," says S S Gopalarathnam, managing director, Cholamandalam MS General Insurance.

While some insurers only offer it under their group policies, others have started offering the facility to individual health insurance seekers. PSU insurer New India Assurance and standalone health insurance provider Star Health and Allied Insurance are other insurance companies that have started covering ayurvedic treatments under individual policies. ICICI Lombard General Insurance covers it under government scheme and Future Generali Insurance offers it to corporate group insurance buyers from which employees of the covered company can benefit.

 

IRDA against TPAs working for govt health insurance schemes

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IRDA against TPAs working for govt health insurance schemes

Insurance regulator IRDA is proposing to ban Third Party Administrators (TPA) from operating as intermediary for the government sponsored health insurance schemes.

"The licensed TPAs cannot enter into arrangements for servicing health schemes promoted, sponsored or approved by any non-insurance body including central, state, local governments, firms, corporates during the subsistence of the TPA license granted by the IRDA," the regulator said in a draft circular, on which it has invited comments.

The Insurance Regulatory and Development Authority (IRDA) had in 2005 allowed TPA to act for government sponsored schemes, but since then there has been an exponential growth in the health insurance industry.
The gross written premium of health insurance in India has increased to about Rs 11,145 crore at the end of March 31, 2011, from Rs 1,535 crore in end-2005.

"Given the growth of the health insurance sector it is important that the systems in place for servicing the health insurance should be dynamic and effective in order to ensure the orderly growth of the health insurance business in India," the draft said.
The circular said that with respect to existing contracts that any TPA is servicing with the government, such contracts would be continued till expiry of the period, without further renewal.
"All insurance companies are directed to ensure that the TPA with whom they seek to enter into an agreement to render "Health Service" do not have any similar arrangement... for servicing parties other than insurance companies...," it said.

 


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Newsflash

Insurance Must for Foreign Students in Delhi University

Announcement by Delhi University Foreign Students Registry has declared that All the Foreign students must have some medical insurance, having evacuation clauses, before joining the University.

In a notification on DU website, students have been adviced to seek admission and provide medical insurance papers, to be eligible to pursue courses in India's premier university.