(a)whether the private/public insurance companies have ambiguous guidelines
whereby customers feel cheated;
(b) if so, the details thereof;
(c)whether the Government has formulated guidelines for health insurance
schemes; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) to (d): Insurance Regulatory and Development Authority (IRDA) has reported that
IRDA (Advertisements and Disclosures) Regulations, 2000 and the Advertisement guidelines
specify the form and manner of advertisements and stipulate guidelines for soliciting business
at the prospect stage. IRDA (Protection of Policyholder`s) Regulations, 2002 also ensures
protection of the interests of the policy holders in matters concerning issuance of insurance
policy, grievance redressal, procedures for settlement of insurance claim etc., which needs
to be complied by all insurers. Further, IRDA has mandated in its File & Use guidelines dated
28th September, 2006 for filing of general insurance products including health insurance that
the contingencies insured under the product should be clear and provide transparent cover
which is of value to the insured. The Insurance Companies are required to submit a certificate
to this effect with IRDA.