In an order issued by Mr J. Hari Narayan, Chairman, IRDA (Insurance Regulatory and Development Authority) on 2nd Feb 2012, the regulator has formed a health insurance Forum to act as a consultative body for all stakeholders.
'It is necessary to create a forum for an effective dialogue between service providers (hospitals), insurance companies, Third Party Administrators and the consumers in general ... in order to enable the evolution of a regulatory structure which would better meet the needs of this growing sector...' said the order.
AdvertisementThe role of the forum will be to advice and assist the regulator in evolving health insurance regulations and facilitate the creation and adoption of standard processes and definitions in health insurance.
The members of the forum would include six chief executive officers of insurance companies, and representative of the Ministry of Health and Family Welfare.
Each nominated member will have a term of two years, and the forum is expected to meet at least twice a year, the order said.