NEW DELHI: In a big relief to dissatisfied health insurance policyholders, sectoral regulator Irda on Thursday allowed them portability — shifting policies from one insurer to another on same terms — from July 1.
"The regulator has examined various issues involved in the portability of health insurance plan and has issued necessary orders for effecting portability which will be implemented from July 1, 2011," Insurance Regulatory and Development Authority (Irda) said in a statement.
The portability facility will allow policy holders to switch over to another insurance company with the same conditions.
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