IRDAI asks insurers to approve cashless claim in 3 hours: Check all changes

The Insurance Regulatory and Development Authority of India (IRDAI) mandates insurers to authorize cashless claims within three hours of a discharge request, covering additional charges if delayed. By July 31, 2024, insurers must establish the necessary infrastructure. \r

In emergencies, authorization decisions must be made within one hour. Insurers must also facilitate immediate release of mortal remains if a policyholder dies during treatment. Additionally, a digital pre-authorization process is encouraged, and no-claim bonuses will now include options for either increasing the sum insured or a discount on premiums. \r

Policyholders can cancel their policy anytime for a refund of the remaining premium. Insurers are required to offer diverse products, add-ons, and riders tailored to various demographics and medical needs.