CMA publishes draft contract to upgrade health insurance sector

Muscat: The Capital Market Authority (CMA) published for consultation the draft standard contract regulating the relationship between insurance companies, health service providers and third-party health insurance administrators on its website to receive the opinions of the said institutions, stakeholders and academicians to attain its strategies in upgrading the health insurance sector in Oman in preparation for the implementation of health insurance 'Dhamani'.

CMA endeavours to regulate the relationship between the parties of the health insurance transaction to limit the differences and to speed and standardise the operations for better financial flows and enhanced services for the benefit of all the stakeholders in addition to rendering quality service through specific terms and conditions related to operational aspects.

The contract wording focuses on several areas covering the rights of the insured, defining the relationship between the parties to ease payment for the covered service and to urge the service providers to render best quality service as per the specified standards and practices and to ensure sound payment beside highlighting the procedures to be followed in the events of fraud or misuse as well as termination and dispute resolution clauses.

CMA receives the opinions and remarks of the public via the email of the Health Insurance Supervision Department.