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Insurance firms, Irda work on health cover transfers
A plus on current rules, but there will be restrictions - and downsides. Insurance companies and the sector regulator have been holding talks on allowing portability in medical insurance. The thinking is that someone with a medical insurance cover of over Rs 1 lakh should be allowed to shift insurers without losing the cover. Said S L Mohan of General Insurance Council (GIC), an association of non-life