Give with one hand –take it away by other hand.It is very common to hear this type of statement. The same thing was noticed in one of the news item according to which Apollo Munich is going to get approval for health insurance product for senior citizens of any age. This product is going to get approval of IRDA by end of August 2011.This is one part of the story where it is giving with one hand. The cooling off period will be 1 year or 12 months. This is what we have called is taking away by other hand. We feel Cooling off period of 12 months is...
Monday, 15 August 2011
Rs 10000 crores underwriting loss by our non life insurance industry during 2010-11 –it needs attention of all of usIt is disappointing to know that Indian general insurance industry which touched premium figure of Rs 42000 crores during 2010-11 has incurred underwriting loss of Rs.10,000 crore .Does it give a signal that for next 5 years these companies will go on incurring losses.According to Mr. G Srinivasan, chairman and managing director, United India Insurance, commented that the challenges for both the industry and individual insurance...
Sunday, 14 August 2011
Free Medicare to all citizens- Time to introspect.Times of India of Aug 8, 2011 has carried a news item on the concept being considered under free medicare. Part of it is:“Working towards its aim of providing free healthcare to all, the government is planning a national health entitlement card (NHEC) for every citizen that will guarantee access to a package of essential primary, secondary and tertiary healthcare fully funded by the centre.The proposal, finalized by a high-powered expert panel of the Planning Commission, talks of covering both in-patient...
Let us include OPD in our health insurance policies.OPD coverage is equally important. Are we living in mid-eighties when Mediclaim product was developed with coverage for Curative treatment?The News item as above shows the importance of Diagnostic tests where small amount would have saved pain and agony to Joshi/Mishra, their families and the claim which insurance company will have to pay. Imagine the productivity loss which the employer of Joshi/...
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