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Posted by Jeff Jankowski on Nov 27th, 2010 and filed under America, News.

The insurance regulator in India, Insurance Regulatory and Development Authority (IRDA), recently came up with new drafts of guidelines for health insurance services. It was just agreed recently in response to the many criticisms from the concerned people that some insurance services were not capable of giving proper benefits to members.

These newly drafted guidelines stated that a member of a health insurance company will have the chance to transfer any other insurance group with the equivalent premium that their first company had offered if the member does not feel the satisfaction that the company had offered.

Finance Minister Namo Narain Meena said that IRDA is working on transferable health insurance services of all similar health insurance policies and the exposure draft of this regard is expected to be released by IRDA shortly for feedback of stakeholders and public.

Definitely, companies who are currently offering health insurance services will go up against these newly drafted rules. However, insurance regulators will continue to push and make this policy be approved so that if some insurance companies were lacking right services, they will still have time to improve and change for the better and for them to be of good service to the customers.

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