TPA stands for

A. Third Party Assignee

B. Third Payment Administrator

C. Third Payee Assignor

D. Third Party Administrator

Answer: Option D

Solution(By Examveda Team)

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.