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Can an insurance company wind up a health insurance policy?
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11 Jan, 2023
by Reddy
Let's say there is a Company ABC offering health insurance policies and it has only one Super Top Up. After few years, can it decide to close/wind up the policy? What happens to existing policy holders if the company doesn't offer any other super top up policy?
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Hello Reddy
Please remember that anyone can't open an insurance company they will have to inject a huge amount of working capital to start the insurance company and even if the insurance company BURST as you say the regulator IRDAI will try to merge the troubled company with the existing insurance company and they will insure that the policyholder will not suffer at any cost so don't worry about this things