INDIA: Portal To Redress Seniors’ Insurance Plaints

‘Recommendations such as constituting a health insurance pool for senior citizens would take longer to execute and need Government approval’. MUMBAI (BusinessLine), February 7, 2008: The Insurance Regulation & Development Authority (IRDA) plans to launch a web site this week dedicated to the grievance redressal of senior citizens, said Mr C.S. Rao, Chairman, IRDA. The regulator had set up a committee last year to study health insurance concerns faced by senior citizens. “There will be a separate officer who will handle grievances. The e-mail address and contact numbers of this officer will be placed on the Web site,” Mr Rao told presspersons. The regulator has also told public sector companies that the hike in renewal health insurance premium for senior citizens should not exceed 75 per cent. Mr Rao said that recommendations such as constituting a health insurance pool for senior citizens would take longer execute. “These are long-term recommendations and we would have to write to the Finance Ministry for approval. There are several questions that would have to be addressed like ‘who will administer the pool?,” he said. Copyright © 2008, The Hindu Business Line