CCI relief for United India Insurance, E-Meditak over abuse of dominance - Indian Express

Press Trust of India : Fri Jul 05 2013, 15:26 hrs < /div> As per the complaint filed by an individual, United India Insurance had obtained the business of "Mediclaim Insurance for the CanCard Holders under group insurance from the year 2005-06". Reuters Competition Commission of India (CCI) has rejected allegations of abuse of dominance against United India Insurance Co and its third party administrator E-Meditak in the market for medical insurance services. In its order on July 1, Competition Commission of India said it was "appropriate to close this case... as no contravention of the provisions of the (Competition) Act is prima facie found to exist". One in three insurance companies feel ill-prepared to face NextGen trends The case was filed against United India Insurance and E-Meditak (TPA) Services. Third Party Administrators (TPA) act as intermediaries between the insurer and the insured and facilitate cashless service at the time of hospitalisation as well as processing of claims. They are appointed by insurance companies and licensed by insurance sector regulator IRDA. As per the complaint filed by an individual, United India Insurance had obtained the business of "Mediclaim insurance for the CanCard Holders under group insurance from the year 2005-06". It was alleged that since United India Insurance was the only and dominant service provider to "CanCard Group Medi insurance policy holders", all holders who opted for these medi-claim policies were necessarily required to carry out all the transactions through the insurance company and its TPA. "Opposite Party 1 (United India Insurance) does not seem to hold a position of strength in the relevant market (services of medical insurance) which can enable it to operate independently of the competitive forces prevailing in the relevant market or affect its competitors or consumers or the relevant market in its favour," CCI said. It also noted none of the TPAs was dominant in the market of the services provided by them to various health insurance policy holders and non-life insurance companies within India. The complainant had also alleged that E-Meditak failed to fulfil its obligations pertaining to renewal/termination of the policy, claim intimation and repudiation of claim, among others, under its agreement with United India Insurance. ... contd. ALSO READ Hero begins African safari; starts operations in Kenya Gold futures down 0.30 percent on weak global cues Hindustan Unilever, United Spirits hit record highs Samsung Electronics Q2 misses forecast as smartphone worries deepen Please read our terms of use before posting comments TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGDoEoJH_Be5LSpLxus0N_97dWIsw&url=http://www.indianexpress.com/news/cci-relief-for-united-india-insurance-emeditak-over-abuse-of-dominance/1138085/

Put the internet to work for you. via Personal Recipe 2910127