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May 3, 2001
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Money > Business Headlines > Report May 3, 2001 |
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IRDA clarifies on chief's qualificationsBS Banking Bureau The Insurance Regulatory and Development Authority on Wednesday said that "so long as the head of the third party administrator is supported by two people with the necessary qualifications, it would meet the criteria". This is in contrast to the draft regulations for TPAs released yesterday which called for dual-technical qualifications of the chief executive officer. The draft regulations for TPAs had identified that the head ought to have undertaken a course on hospital management from a recognised institution and should have passed the Licentiate examination conducted by the Insurance Institute of India, Bombay. A senior IRDA official clarified that the chief executive officer could be supported by two senior officials with requisite qualifications. Leading TPAs in the country - Paramount Healthcare, Sedgwick Parekh, Ican Medicare - will make a representation to the IRDA, emphasising the need to address the critical valuation norms for TPAs in terms of their networking and infrastructure support. "As TPAs will be servicing a huge number of people, software itself will be a major expense," said Ican Medicare's managing director, George Mathew M Sedgwick Parekh has spent around $1.5 million on its software. Ican, having undertaken the same in-house, has spent $ 0.5 million. Powered by YOU MAY ALSO WANT TO READ:
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