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IRDAI Suspends E-Meditek Insurance TPA's Registration
sharda sahu 22 Mar 2018

IRDAI Suspends E-Meditek Insurance TPA's Registration

Based on a whistle blower complaint received on September 4, 2017, the lnsurance Regulatory and Development Authority of lndia (hereafter referred to as IRDAI) on Tuesday suspended the certificate of registration issued to E-Meditek Insurance TPA Ltd (hereafter referred as E-Meditek TPA) without prior notice, with immediate effect.

However, “E-Meditek TPA may continue servicing the existing health insurance policies based on the discretion and direction of the respective insurers”, as described in the order passed by the IRDAI Member (non-life).

During the course of inspection of E-Meditek TPA, several irregularities were observed in violation of various provisions of IRDAI (TPA - Health Services) Regulations, 2016.

 “The irregularities observed against the E-Meditek TPA are of such grave nature that it is detrimental to the interests of policy holders and the insurers and allowing E-Meditek to continue their activities as TPA shall have adverse impact on the policyholders and insurers”, said the IRDAI members order.

The IRDAI order further said, “No lnsurer shall entrust servicing of new policies or servicing of new lives under the existing group schemes / policies to E-Meditek TPA. Further steps are being initiated as per provisions of lnsurance Act 1938 and IRDAI (Third Party Administrators - Health Services) Regulations 2016”.

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