No steep premium hike for health policies: IRDAI

IRDAI has recently ruled out a steep hike in premium of health insurance policies amid reports of a rapid rise in claims by policyholders. It said that a health regulator would have helped in terms of adherence to treatment protocols, reasonability of charges and service quality at hospitals.

“It has already been clarified that there has been no such steep hike across the board for health insurance. Despite additional pressure due to COVID-19, insurance companies have been able to manage their affairs without any disruption… IRDAI is monitoring the situation closely for remedial action, as needed from time to time,” said Subhash Chandra Khuntia, Chairman, IRDAI.