Question

What is the obligation of a TPA if its license is revoked or cancelled?

a.

Keep the data confidential

b.

Transfer the data to another TPA

c.

Hand over the data and all books, records, or documents relating to the business to the respective insurance company

d.

Destroy all records immediately

Answer: (c).Hand over the data and all books, records, or documents relating to the business to the respective insurance company Explanation:If the license granted to the TPA is either revoked or cancelled, the TPA shall hand over the data collected by it and all the books, records, or documents relating to the business carried on by it with regard to an insurance company to that insurance company forthwith, complete in all respects.

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Q. What is the obligation of a TPA if its license is revoked or cancelled?

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