loss of health insurance business of PSU Insurer The audit report on Third Party Administrators (TPAs) in the health insurance business of public sector insurance companies noted that either the profits of other lines of business decreased or decreased or the overall losses increased.
“The loss was due to group health insurance policies, where premium charges were lower and claim outgo was higher than retail policies,” it said, adding that the market share of PSU insurers in the health insurance business is also declining. alone health insurer And private insurer,
The findings of the audit tabled in Parliament on Friday revealed that four insurers-, United India Insurance, oriental insurance And national insurance – Did not follow the government directive to have a combined ratio of standalone group policies and not to exceed 100% for cross subsidized group policies.