Star Health and Allied Insurance Co. Ltd. has received directions from the Insurance Regulatory and Development Authority of India (IRDAI) concerning policy portability and claims settlement. The company is instructed to adhere to specified norms, review portability cases for FY 2024-25 and FY 2025-26, and report on compliance within four months. While most operations are unaffected, a limited financial impact is anticipated due to specific portability claims.
IRDAI Directs Policy Portability and Claims Norms
Star Health and Allied Insurance Company Limited announced on August 26, 2026, that it has received an order from the Insurance Regulatory and Development Authority of India (IRDAI). The directive instructs the company to follow norms related to policy portability and the settlement of claims as specified by IRDAI from time to time.
Key Directives and Compliance
The company has been advised to implement these norms, including a review of certain portability cases for the financial years FY 2024-25 and FY 2025-26. Star Health is required to take appropriate action in line with applicable policy terms and report to IRDAI on compliance within four months of the order.
Financial and Operational Impact
Regarding financial implications, the company expects any resulting impact to be limited and associated with a defined category of portability claims pertaining to FY 2024-25 and FY 2025-26. The company has confirmed that no significant impact is expected on its overall operations or other activities due to these directions.
Company’s Commitment
Star Health and Allied Insurance Company Limited has stated that it will adhere to the directions issued by IRDAI. The information provided is accurate, correct, and complete to the best of their knowledge and belief and will be available on the company’s website.
Source: BSE
