Master Circular News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Insurance Regulatory and Development Authority of India (IRDAI) made major changes in the regulatory norms for health insurance policies and issued a comprehensive Master Circular on Health Insurance Products repealing 55 circulars. IRDAI said that the insurer must grant final authorisation within three hours of receiving receipt of discharge request from the hospital. Health insurance: The IRDAI issued a comprehensive Master Circular on Health Insurance Products repealing 55 circulars.

The IRDAI stated that in emergency cases the insurers must decide on cashless authorisation requests immediately.

Get latest articles and stories on Business at LatestLY. The Insurance Regulatory and Development Authority of India (IRDAI) has directed the insurance companies to settle the cashless claims within one hour of hospital admission and the claim settlement with three hours of hospital discharge. Business News | Cashless Claims Within an Hour and Discharge from Hospital in 3 Hours Says IRDAI's Master Circular.

The regulator has asked the exchanges to respond to the brokers' application much faster than the present timeline

IRDAI revamps health insurance norms for policyholder empowerment, seamless claims experience, wider product choices, and no claim bonuses.