IRDA pulls up National Insurance Company
The Insurance Regulatory and Development Authority has pulled up the National Insurance Company for not mentioning the premium rate in a group health insurance policy issued by the company.
By PTI |
NEW DELHI: The Insurance Regulatory and Development Authority has pulled up the National Insurance Company for not mentioning the premium rate in a group health insurance policy issued by the company.
"The insurance certificate did not mention what is the premium. IRDA has written to the insurance company (NIC) to comment on this," an IRDA official said.
Premium should be written on the face of a policy, but there was no transparency in this case.
When a policy is issued, an insurance company has to clearly mention the premium and claim procedure, the official said.
IRDA takes such violations seriously and takes prompt action to protect the interests of policyholders.
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