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Health Insurance Glossary (3) - INDIA - continued

Posted by HannahSP on Sat, 19 Dec 2009

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InsuranceInsurance is a contract in which an individual or entity, pays the insurance company in return for the insurance company bearing the risk of loss against specified conditions. The individual receives reimbursement against losses from an insurance company. The company pools the clients' risks to make payments more affordable for the insured.IRDAIRDA stands for “Insurance Regulatory and Development Authority”. It was established in 1999 under an act of Parliament to promote and regulate ... Read More

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