TPAs
Plugging the gaps in FDI in insurance
Before 1999, the insurance sector in India was nationalized. No private sector or foreign insurance companies were allowed. In 1999, the insurance law was amended, opening the market to private firms as well as joint ventures with foreign partners. The amended law permitted foreign direct investment (FDI) only up to 26% in an Indian insurance company. Read more
Health insurance firms must settle claims directly with policyholders, rules court
Insurance companies will be required to pay health claims directly to consumers, according to a Bombay High Court judgment delivered on a public interest litigation. Earlier, such claims (reimbursements of cashless settlements) were done through intermediaries called third party administrators (TPAs). Read more
HC asks IRDA to specify roles of TPA in settlement guidelines
The Bombay High Court  said the Insurance Regulation and Development Authority (IRDA) can go ahead with the process of finalising regulations for settling insurance claims and for the role of Third Party Administrators (TPAs) and powers of Ombudsmen. Read more
IRDA Circular- Health Insurance BAP application – Digital Signature of TPAs
To all TPAs
Ref: IRDA/HLT/MISC/CIR/263/12/2012
Date: 28-12-2012
For implementation of a web based licensing system for TPAs which would facilitate online submission of application by companies for grant of fresh/renewal TPA license. Read more