Kathmandu. Indian insurance regulator IRDAI has launched a strict investigation against five insurance companies.
IRDAI has launched an investigation into five private insurance companies in India over high health insurance charges and denial of claims. These companies have been on irdai’s radar for a long time.
Irdai said that if it is found to be wrong during the investigation, they will be fined.
IRDAI had earlier launched an investigation into Star Health Insurance. All five companies, including Star Health, have been accused of wrongly increasing the premium of health insurance across the country.
At the same time, the claims of these companies have also increased significantly. Both premium hike and claim rejection are around 30 per cent, irdai said.
India’s Finance Ministry, in particular, seems to be very unhappy with such attitude of insurance companies. Therefore, the Ministry of Finance has directed IRDAI to investigate these companies.
