Page 14 - The Insurance Times September 2024

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few more cashless cases, we can
New India Assurance hikes health insurance pre- gradually move over to NHCX plat-
mium by 10% form. This is just the beginning," said

New India Assurance, the country's largest general insurer, has increased Paramount MD Nayan Shah.
premiums on certain health insurance products by 10 per cent, according Priyamita Ghosh, a veteran in PPN en-
to a communication by the insurer to the distributors. The increase will be rolment committee of NICL, said: "The
effective from November 11, 2024. The general insurer has revised its pre- first baby step towards complete
miums to align with the recent changes introduced by the IRDAI in the digitalisation has already been initi-
health insurance sector, the communication reviewed. ated."
"This adjustment is primarily due to the additional exposure resulting from Ajitha Rajagopalan, manager, NICL IT
the IRDAI circular, which expanded coverage to benefit policyholders, lead- department, added that the Ayushman
ing to higher anticipated claims and necessitating a premium hike," said a Bharat ID was the key for NHCX inte-
person aware of the development. gration
IRDAI's master circular introduced several changes, including the reduction
in the waiting period for pre-existing diseases to 36 months from 48 months After late-night hearing,
and the reduction in the moratorium period to 5 years from 8 years, among HC orders arrest of
others.
Panama ship
According to the General Insurance Council's data, New India accounts for
nearly 18.8 per cent of the industry's health portfolio. The company's health In a late-night emergency hearing, the
portfolio accounted for approximately 53 per cent, worth Rs 5649.86 crore, Calcutta High Court directed the arrest
of a Panamanian vessel at Haldia Dock
as of June 2024. Further, amid the surge in medical inflation, other insur-
ance companies are also believed to have increased their health insurance Complex.
premiums. A city-based paper company had ap-
proached the bench of Justice Arindam
Mukherjee against shipping authorities
NICL settles 1st health Institute of Cardiac Sciences in for supplying damaged goods worth Rs
Kolkata's Mukundapur, said Para-
claim through NHCX 7,48,77,480. They feared that if the
mount senior VP Shamita Paul.
The National Insurance Company Ltd vessel MV Ph Giang Minh was not de-
(NICL) has become the first PSU insurer "It is a historical event. It could finally tained.
to settle a health claim through the happen because of the diligent efforts An official of the paper company said
national health exchange (NHCX). It of our head office team and Para- the ship was chartered by them from
has done it with Paramount Health mount," said Sanchali Lal, NICL chief a company called Dava. It got loaded
Services & Insurance TPA. manager in Kolkata. in Indonesia and unloaded in Haldia.
The case was executed at RN Tagore "We are now confident that after a The ship was carrying pulp for making

The Insurance Times September 2024 13