Insurance regulator IRDA has announced that it will soon come out
with draft norms that define terms like critical illness and
hospitalization cost, among others, a move that will reduce the scope
for disputes between insurers and hospitals.
The Chairman of the IRDA has said that the Insurance Regulatory and
Development Authority (IRDA) would lay down a standard definition for
major critical illnesses under health insurance, which would reduce
confusion between Third Party Administrators (TPAs), insurers and policyholders.