IRDAI delists 10 medical treatments for health cover from optional list

The insurance regulator, in a circular on Monday, delisted 10 specific medical treatments from its list of optional covers, that can be offered by health insurance companies.

Through its guidelines on the standardisation of health insurance, the Insurance and Regulatory Authority of India (IRDAI) lists various medical procedures, medical equipment like alcohol swabs and administrative charges amongst others, that can be offered as part of a health insurance policy.

Health insurance companies have the option to offer customers a cover for the items or procedures listed in chapter 3 of the guidelines. These are part of the ‘non-payable’ aspects of a standard health insurance policy.

Health insurance policies mainly cover hospitalisation charges, while the costs of other treatments and ancillary equipment have to be borne by the customer or policyholder themselves.

Brexit to cost UK 10,000 finance jobs on day-1, 75,000 in all: BoE governor

Job losses totalling 75,000 in banking and insurance because of Brexit are "plausible", Bank of England Deputy Governor Sam Woods said on Wednesday.

Woods told British lawmakers that the 65,000 to 75,000 estimate was drawn up by consultants Oliver Wyman and not the Bank of England, but that it was within a "plausible range of scenarios".

Woods also told a House of Lords committee that it was reasonable to expect that the UK financial sector will have lost about 10,000 jobs on "day one" of Brexit when Britain leaves the European Union in March 2019.

"It's a moving feast," Woods said.

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