New Delhi, Dec. 21 (PTI): Mediclaim policy-holders dissatisfied with the services of their insurance provider will be able to switch to another firm with accumulated bonuses from the next fiscal.

This was recommended by the General Insurance Council, and the proposal will be sent to the Insurance Regulatory and Development Authority soon.

According to Oriental Insurance Company chairman M. Ramadoss, the portability will be a reality by April 2009. He said the council’s guidelines were in favour of both customers and insurance firms.

Meanwhile, the Supreme Court has ruled that a motor insurance company cannot deny compensation to the legal heir of a vehicle owner if the death of the original policyholder was not disclosed to the firm.