NEW DELHI : Insurance sector regulator IRDAI has slapped a penalty of Rs 25 lakh on Family Health Plan (TPA) Ltd for violating various health insurance norms.
Insurance Regulatory and Development Authority of India (IRDAI) has imposed fine on third party administrator (TPA) for violations, including providing services other than health and giving healthcare services overseas.
“In the matter of Family Health Plan (TPA) Ltd… The penalty amount of Rs 25 lakh shall be paid within 15 days from the receipt of this letter,” IRDAI said in an order.
IRDAI slapped a fine of Rs 5 lakh on the TPA for rendering IT support services for porting member details covered under the health insurance policies of Wapmed TPA Kuwait.
“It is a violation… The primary object of the company shall be to carry on business in India as a TPA in the health services and shall not engage itself in any other business,” the Authority said.
Penalty of similar amount was slapped for providing services in alliance with Allied Insurance Co. Of Maldives to their clients visiting India for medical treatment.
Also, fine of Rs 5 lakh each was imposed on Family Health Plan for misrepresentation of figures to IRDAI, engaging in printing and dispatch of health insurance policy kits to its customers and providing emergency assistance and other allied services to clients of foreign insurers in India.
IRDAI has asked Family Health Plan to ensure compliance with directions of the Authority. (AGENCIES)
Trending Now
E-Paper
Follow our WhatsApp channel