A Health Insurance Forum was formed by the Insurance Regulatory and Development Authority (IRDA) to act as a consultative body for all stakeholders.
The growth in the health insurance industry has necessitated the creation of a forum for effective dialogue between hospitals, insurance companies, third-party administrators and consumer.
The Forum will function as an advisor and also assist the IRDA in evolving health insurance regulations and facilitate the creation and adoption of standard processes and definitions in health insurance.
6 Chief Executive Officers of insurance companies and a representative of the Ministry of Health and Family Welfare would be members of the forum. The term of each nominated member will be 2 years, and the forum is expected to meet at least twice a year.