Ms Insurance Companies

Introduction of Medicare India

In the mid-80s most hospitals in India are government owned and the treatment was free. With the advent of the Private Medical Care disease "> need for health insurance has been tried and various Insurance Companies (New India Assurance, National Insurance Company, Oriental Insurance & United Insurance Company) introduced Mediclaim insurance as a product.

According to the latest insurance news Report of Health continues to be the strongest growth with an annual growth rate of 55%. Health premium increased to Rs 3300 crores in 2006-2007. According to recent reports from various agencies of health sector has the potential to become a Rs. 25000-crore industry by 2010.

August 15 2007 Prime Minister announced Rs 2000 crore for health insurance for poor citizens. We expect this amount will be partly in the form of grant, therefore, during calendar year 2008 we can expect insurance premiums to touch the figure in the range of Rs 10,000 crores.

In 2001 with the entry of different private insurance companies now customers have the choice to buy this insurance from 14 companies insurance.

Companies that offer health insurance or Mediclaim are;

Apollo DKV Insurance Company Limited.
Bajaj Allianz General Insurance Company Limited
Cholamandalam MS General Insurance Company Limited
Future Generali France Assurance Company Limited
HDFC General Insurance Company Ltd.
ICICI Lombard General Insurance Limited.
IFFCO Tokio General Insurance Company Limited
National Insurance Company Limited
New India Assurance Company Limited
Oriental Insurance Company Limited
Reliance General Insurance Company Limited
Royal Sundram Alliance Insurance Company Limited
Star Health and Allied Insurance Company Limited
TATA AIG General Insurance Company Limited. (Overseas Medicare only)
United India Insurance Company Limited
Universal Sompo General Insurance Company Limited

India is the only country where politics hospital insurance was sold as insurance policies "> Mediclaim insurance policies. The name itself gives a sense to the insured that the claim must be filed. If the policy of insurance automobile is not sold as insurance claim auto policy and household insurance is not sold as policy advocacy household, so why it is designated as Mediclaim?

Health Insurance and Mediclaim are two different names for the same product. The change began to come and we've now started calling the insurance. ICICI Lombard has even appointed Health Insurance Policy.

The call is also the insurance is a positive view of this assurance. It also gives us the feeling that we as a society have begun to move medical curative to preventive medical care.

About the Author:

Suresh K Sethi is Chief Executive Officer of RIA Insurance Brokers Pvt. Ltd.; anIRDA approved insurance brokerage firm, headquartered in New Delhi with branches at various locations in India. He is of the firm opinion that Health (Mediclaim) Insurance is the important segment of Indian insurance industry. It is expected grow at the rate of 200 to 225% per annum in the years to come. It will emerge as one of the important segment of non life insurance Industry. This book is written for all those who are not having insurance background but wish to buy Health Insurance cover for themselves or for their family or for the organization for whom they work.Suresh is also Vice President Director of Insurance Brokers Association of India,the only association of all IRDA licensed insurance brokerage firms operating in India. As a member of Insurance Committee of FICCI as well as PHD Chamber of Commerce & Industry he has made value addition towards use of technology in Insurance.

Article Source: ArticlesBase.com – Introduction Of Health Insurance In India – Mediclaim Policy In India – Health Insurance Coverage – Health Insurance Company In India