Insurance Regulator IRDA Clarifies On Revision In Health Insurance Premium

The Insurance Regulatory and Development Authority of India (IRDAI) has come out with a clarification that insurers were permitted to change the base premium up to +/- 5 per cent of originally approved premium rates, in order to comply with the guidelines on standardization of exclusions as a one time measure for seamless transition of existing products to ensure viability and sustainability, According to IRDAI, as on September 30, 2...