Page 36 - Insurance Times April 2024
P. 36
Q: In your expert opinion, what are some key trends you management. Missing the Environment pillar such as
foresee shaping the future of the insurance industry in 'climate' or any Social pillar such as 'trust', 'inclusion',
Bangladesh? 'diversity', 'equity', or Governance pillar such as
A: I am especially optimistic on the future of the insurance 'transparency' or 'incentives', no insurance company will
industry in Bangladesh, particularly in these days. Not like sustain. It also depends on the maturity of the industry when
previous time, the current government has put high young companies may focus more on profit and less on ESG;
importance on the development of insurance sector. You but this temporary high profit will definitely disappear soon
know that the Bangladesh Insurance Sector Development if not treated ESG with care. In Bangladesh, we can see how
Project (BISDP) is currently going on for the IDRA and the the committed insurance companies are expanding well
public sector insurance. It will next be applied to private while the nots are moving to nowhere.
sector insurance development. Additionally, a few insurance
companies has started hiring Management Trainee Officers Q: Any message you would like to give to the readers of
(MTOs) like banks. This inspires talented students to study The Insurance Times
insurance and develop successful career there. Qualified A: I want to say thanks to The Insurance Times for their
employees will reshape the business of insurance soon; I am interest, firstly, on the insurance industry of the neighboring
hopeful. Moreover, technological collaboration of the country like Bangladesh, and ultimately, on how the pioneer
insurance companies increases their transparency while public university is nurturing it by developing talented
ensuring good governance. This will definitely return trust insurance-graduates for the industry who are working hard
of the customers to the sector. to reshape the future of insurance in the country. I am
confident that the oversights here will enrich the readers
Q: How do you view the development in the field of Risk of the magazine. I can understand that the readers have
Management with the growing importance of ESG and diverse insurance concern. We may definitely think about
related areas in Bangladesh? collaborative research for mutual benefits in the broad area
A: ESG is the rightly identified in the area of risk of insurance.
Fix hospital treatment charges for entire country: SC asks Centre
In a development that could lead to faster adoption of empanelled hospitals, is facing issues as hospitals across
cashless health insurance across the country, the Supreme the country are not adopting standardised rates for
Court (SC) has directed the central government to providing similar treatments.
expeditiously fix the hospital treatment charges to be paid
In the event the central government does not come out
by patients within the next six weeks.
with a concrete proposal by the next date of hearing, we
Currently, different hospitals charge different rates for will consider issuing appropriate directions in this regard,
treatment, making it difficult to implement the cashless ruled a bench of Justices B.R. Gavai and Sandeep Mehta
health insurance system in the country. last week
We, direct the Secretary, Department of Health, Union of The bench was hearing a PIL filed by an NGO Veterans
India to hold a meeting with his counterparts in the State Forum for Transparency in Public Life, through its general
Governments/Union Territories and come with a concrete secretary Wing Commander (Retd) Bishwanath Prasad
proposal by the next date of hearing (in the next six weeks), Singh praying for the SCs direction to determine the
said a two-judge division bench of the Supreme Court while rate of fee chargeable by hospitals across the country from
hearing a public interest litigation (PIL) filed by an NGO. the patients in terms of Rule 9 of the Clinical Establishment
(Central Government) Rules, 2012.
The general insurance industry, where the health portfolio
almost contributes around Rs 1 lakh crore of premium, is The NGO had submitted that the Central Government
now keenly watching the development and expect a itself has notified the rates which are applicable to the
positive outcome on the hospital charges. The industry, CGHS (Central Government Health Scheme) empanelled
which recently launched its scheme Cashless Everywhere, hospitals and had suggested that till a solution is found,
where a policyholder can receive treatments from any the Central Government can always notify the said rates
hospital in the country and not just from its own insurers as an interim measure.
The Insurance Times April 2024 33
