Q27
TPA stands for
A.
Third Party Assignee
B.
Third Payment Administrator
C.
Third Payee Assignor
D.
Third Party Administrator
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
TPA stands for Third Party Administrator. It is an intermediary company between an insured and insurer. It provides a supporting role to the insurer in terms of claim settlement. This body obtains a license from IRDA in order to function in the insurance industry.