The Insurance Regulatory and Development Authority (Irda) said that it would come out with a separate regulation for health insurance in six months. The health insurance segment, earlier considered a loss-making portfolio is now garnering more attention, thanks to de-tariffing and more players getting into this segment.
Representatives of the association said that they were concerned about claims management and consultancy services which they were not allowed to perform as Irda members. They sought to reduce the training period for brokers from 100 hours to 50 hours to prevent excess expenditure. Irda had constituted an expert committee, the GK Raman committee, to review the regulations governing the licensing of brokers. Irda is still reviewing the committee reports and has not set a time-frame to give its recommendations.
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