IC 14 - Regulation of Insurance Business Exam Study Notes

Cashless facility' means a facility extended by the insurer or TPA on behalf of the insurer to the insurer, where the payments for the costs of treatment undergone by the insured in accordance with the policy terms and conditions, are directly made to the network provider by the insurer to the extent pre-authorization is approved.
Health plus Life Combi Products' mean products which offer the combination of a Life Insurance cover offered by a life insurer and a Health Insurance cover offered by General Insurer or Health Insurer.
Network Provider' means network provider as defined in IRDAI (Third Party Administrators - Health Services) Regulations, 2016.
Pilot product' means a close-ended product with a policy term of one year that may be offered for sale by General Insurers or Health Insurers for a period not exceeding five years from the date of launch of the product with a view to giving scope to innovation for covering risks that have not been offered hitherto or stand excluded in the extent products.
Protability' means the right accorded to an individual health insurance policyholder (including family cover), to transfer the credit gained for pre-existing conditions and time bound exclusions, from one insurer to another or from one plan to another plan of the same insurer.

Licentiate Examination - IC 14 - Regulation of Insurance Business Exam - Important Points