|
#2
25th November 2017, 12:24 PM
| |||
| |||
| Re: Health Claim Settlement Ratio IRDA
Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory agency tasked with regulating and promoting the insurance and re-insurance industries in India. Claim Settlement Ratio (or IRDA claim ratio) is the total number of death claims approved by an insurance company, divided by the total no. of death claims received by the insurance company. It is generally measured for a period of one financial year. Health Claim Settlement Ratio IRDA   Functions of the IRDAI Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations Protecting policyholder interests Specifying qualifications, the code of conduct and training for intermediaries and agents Specifying the code of conduct for surveyors and loss assessors Promoting efficiency Promoting and regulating professional organisations connected with the insurance and re-insurance industry Levying fees and other charges Inspecting and investigating insurers, intermediaries and other relevant organisations Regulating rates, advantages, terms and conditions which may be offered by insurers not covered by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938) Specifying how books should be kept Regulating company investment of funds Regulating a margin of solvency Adjudicating disputes between insurers and intermediaries or insurance intermediaries Supervising the Tariff Advisory Committee |