The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one of the director in a TPA should hold a minimum qualification of MBBS graduate and a valid registration from the medical council of any state in India.
The regulator added that the minimum paid up capital of the company should be in equity share amounting to Rs.5 crore. Existing registered TPAs have to comply with the notification within one year.
