Insurance companies may soon have to offer uniform clauses in indemnity-based health products to simplify customer experience, with standardised wordings for provisions such as claim settlement within 30 days and cancellation of policies with a 15-day notice.
Keen on bringing uniformity in the wording of health insurance policy contracts, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to standardise some of the general clauses that are commonly used in indemnity based health products.
This story is from the January 13, 2020 edition of The Hindu Business Line.
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This story is from the January 13, 2020 edition of The Hindu Business Line.
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