Claims Settlement Claims under COVID-19 are required to be handled expeditiously and reviewed by the claims review committee of the Insurer before repudiation. Indemnity based health insurance products providing coverage for the hospitalization treatment costs (including the standalone “Arogya Sanjeevani Policy” health insurance product) are expressly required to cover the costs of hospitalization treatment incurred […]
1. IRDAI has vide its circular dated March 4, 2020, instructed all insurers providing health insurance policies and covering costs of hospitalization to: review and expeditiously settle all claims with respect to costs of medical expenses incurred during treatment or during quarantine period as per the terms and conditions of the insurance policy; and devise policies to
SPECIFIC DIRECTION TO GENERAL AND HEALTH INSURERS Read More »
The Insurance Regulatory and Development Authority of India (hereinafter referred to as ‘IRDAI’) issued a circular on March 04, 20201(hereinafter referred to as ‘Circular’) for claims related to Corona virus. The IRDAI has directed all the health insurance companies to include medical cover for COVID-19 irrespective of the nature of policy held by the consumer.
Insurance Companies To include Medical Cover For COVID-19: IRDAI Read More »
Insurance sector plays a very vital role in stimulating the economy. It promotes financial stability, facilitates trade and commerce, manages and strengthens the risk-taking ability. IRDAI is responsible for monitoring the entire insurance sector in India and acts as the custodian for all insurance consumers’ rights. In light of the incessant spread of Covid-19 and