IRDA Postpones Introduction Of Health Insurance Portability To Oct 1

25-Jun-2011
Source : News Tonight

IRDA has delayed execution of portability of health insurance plans crosswise non-life insurers to October 1.

Previously, insurance watchdog had declared that it would implement health insurance portability that permits a client to shift from one insurance company to the other while keeping on the policy, from July 1.

IRDA has embarked upon offering up a web-based trait for the insurance companies to feed in all appropriate details on health insurance plans issued by them to people, which will be accessed by the novel company to which a customer wants to port his insurance plan.

Such a system will permit the novel insurance company to get efficiently information on record of health insurance of the client wishing to port.

Such a trait is required to facilitate the smooth running of the system.

In a release, IRDA stated, "The web-enabled facility is being established by IRDA and the Authority will implement portability of health insurance policies across non-life insurers in the country not later than 1st October 2011."

IRDA stated that the modes of portability to be effective and customer friendliness have been discuss with the non life insurance companies in India.