Apollo Health Insurance - Health Insurance

IRDA imposes penalties on 10 insurance cos: Pranab Economic Times

20.04.10

NEW DELHI: The government today said insurance regulator IRDA has imposed penalties on 10 insurance companies, including Life Insurance Corporation, in the previous two financial years 2008-09 and 2009-10 for violation of regulations.

Besides LIC, the IRDA imposed penalties on Max New York Life, ICICI Lombard, National Insurance Company, United India Insurance, New India Assurance, Apollo Munich Health Insurance, HDFC Standard Life, Reliance General Insurance and General Insurance Corporation, Finance Minister Pranab Mukherjee informed the Rajya Sabha.

Insurance Regulatory and Development Authority (IRDA) imposed penalty on LIC, HDFC Standard Life and Apollo Munich Health for non-achievement of social and rural targets while GIC was short of investment in central government securities, he said.

"The Authority carries out regular inspections of insurers to monitor compliance of the guidelines of IRDA," Mukherjee said.

Penalty was imposed on New India Assurance

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Private sector health insurance - Apollo DKV

Apollo DKV is one of the newer entrants in the Indian health care insurance sector. Apollo DKV was formed with the coming together of Apollo Hospitals Group and DKV, an 80 year old German Insurance giant. The company has already established its presence in all the major cities of India and additionally plans to mark its presence pan India with 100 offices at different locations. The products and services offered are valid on a “Cashless Basis” in over 4000 hospitals (including the 42 Apollo hospitals) across India and across all hospitals in India on ‘Reimbursement Basis’.

One can get all the information regarding health insurance policies from their website http://www.apollodkv.co.in/. We can even buy insurance policies online. An individual can get coverage ranging from 1 to 10 lakhs based on different plans. All plans for an individual cover in-patient treatment, pre-hospitalization and post-hospitalization expenses, and day care procedures. Some of the plans cover maternity expenses as well. Corporate plans are also available. Once you are admitted to one of the network hospitals, you need to show the Apollo DKV Card to the treating doctor. The Network Hospital will then contact the responsible TPA (Third Part Administrator, mentioned on the card) and fill up the pre-authorisation form. This is then sent to the TPA for estimation of expenses. The TPA checks the policy conditions and sum-insured and approves the estimate. A lot of private global health care insurers are now entering the Indian markets through partnerships. However, their reach is limited mostly to large cities and towns even though 50 to 60 percent of Indians stay in small towns and villages. For private health insurers...

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