Monday, January 25, 2021

Non-life insurers get about 41,000 Covid-19 claims

- Advertisement -

Insurers to sell 'Corona Kavach' and 'Corona Rakshak' from July 10Chennai, July 11 (IANS) A total of about 41,000 Covid-19 insurance claims have been lodged with the non-life insurers in the country with an estimated claim amount of about Rs 700 crore, said an industry official.

“About 41,000 Covid-19 claims have been lodged with the non-life insurers across the country. The total amount claimed is about Rs 700 crore,” the official told IANS preferring anonymity.

The average amount claimed is about Rs 1,70,731.

The total number of claims settled by the insurers till date stands at 27,500 and the claim amount paid is about Rs 230 crore.

READ ALSO:  Kanpur emerges as key centre for Covid vaccine trials

The average payment is about Rs 84,000 per claim.

A standalone health insurer told IANS that the company”s average claim payout per Covid-19 claim is about Rs 1,08,000.

“The initial estimates and the actual claims settled will always vary,” an industry official said.

Meanwhile the industry body General Insurance Council recently published a schedule of rates for Covid-19 claims after discussions with medical professionals employed by member insurance companies.

The General Insurance Council had said insurers shall be guided by the treatment protocols prescribed by the Indian Council of Medical Research.

READ ALSO:  Housing units worth Rs 3.7 lakh crore remain unsold, says JLL

The Council said the rates are broadly based on

the schedule of rates suggested for Covid-19 treatment by a Niti Ayog panel.

According to an industry official, smaller hospitals are agreeable to the rates suggested by the General Insurance Council whereas big corporate hospital chains are not.

Meanwhile the Insurance Regulatory and Development Authority of India has set up a working group to look at the possibility of creating a ”Pandemic Risk Pool” as a solution for various issues that emerge due to a pandemic.


India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News


Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Weren’t allowed to enter lift with Aussie players in it: Ashwin

New Delhi, Jan 24 (IANS) Ravichandran Ashwin revealed that the Indian players were not allowed to enter a lift with the Australian players in...

Farmers’ leaders issue guidelines for R-Day tractor parade

New Delhi, Jan 24 (IANS) After getting the permission to organise a tractor rally in Delhi on Republic Day, the farmers’ union has issued guidelines...

Ladakh to be developed as international tourism hub: Union Minister

By Navneet Mishra (IANS) Union Tourism and Culture Minister Prahlad Singh Patel said that Leh-Ladakh and Kargil are being developed rapidly after abrogation of...

Amit Shah accuses Cong of trying to open Assam to infiltrators

Guwahati, Jan 24 (IANS) Union Home Minister Amit Shah on Sunday alleged that the Congress and its electoral ally AIUDF in Assam wanted to open the gates for...