The Insurance Regulatory and Development Authority of India (IRDAI) has instructed general insurance companies to ensure that Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy (AYUSH).

Banking & Finance

The Insurance Regulatory and Development Authority of India (IRDAI) has instructed general insurance companies to ensure that Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy (AYUSH). General insurance companies are required to establish board-approved policy guidelines for AYUSH coverage and offer policyholders the choice to select their preferred treatment option. These guidelines are scheduled to be implemented from April 1, 2024. The guidelines should outline quality standards and procedures for AYUSH hospitals or daycare centres to join as network providers for cashless treatment. In recent times, AYUSH treatments have garnered increased popularity and have become an established branch of medicine.Considering the growing demand for AYUSH treatments, there is a need to consider these treatments at par with other treatments.


      IRDAI has urged companies to adjust products with restrictions on AYUSH treatments to comply with the updated guidelines.

      Furthermore, the regulator has directed general insurers to collaborate with the Core Group of Experts for the insurance sector established by the AYUSH ministry to develop necessary arrangements for AYUSH coverage.

      Under AYUSH, individuals can receive coverage for alternative treatments to allopathic medicine.

 

     


Insurance Regulatory and Development Authority of India(IRDAI)

Founded- 1999
Chairperson- Debasish Panda
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