Insurance regulator has run a strong increase in the premium of health insurance. According to sources, the government has instructed IRDAI to impose penalty and take strict action on insurance companies arbitrary. Giving more details on this, Alok Priyadarshi of CNBC-Awaaz said that soon the insurance companies will be tightened. According to information received by sources, IRDAI will strictly strictly on the arbitrariness of health insurance companies.
Sources say that the government is angry at the premium hike and increasing claim rejections. The government believes that a similar premium increase across the country is wrong. Keeping this in mind, the Finance Ministry has asked IRDAI to take action against the guilty companies. Instructions have also been given to apply penalty along with action on these companies. Last week, the Finance Ministry held a review meeting with companies. Complaints of private insurance companies have been received on a large scale. Both premium growth and claim rejections have increased by more than 30 per cent.
Third party motor premium may increase in FY 2026
On the other hand, according to information received by CNBC-TV18 sources, third party motor premium may increase in FY 2026. The Ministry of Roads is considering increasing the premium. IRDAI has recommended to increase the premium. The Road Ministry can take a decision on this issue in 2-3 weeks. The motor TP premium has not increased since 4 years. IRDAI has demanded an average of 18 per cent premium. The draft will be released after the approval of the ministry.