The Insurance Regulatory and Development Authority of India (IRDAI) has launched a new procedure named “Use and File,” that would allow Insurers to file details with the regulator comfortably after launching the health insurance products. “No prior approval required before launch.” The new procedure is the exact opposite of the previous procedure “File and Use,” which necessitated clearance, or no objection from the regulator within 30 days of filing. The process invariably took longer than the 30-day period.
This led to the formation of the new regime. Here are the details! ##Source:## IRDAI## Do you think launching a product before approval is a safe measure?
