Provide Covid-19 cover in policies: Irdai tells health insurance companies

The Insurance Regulatory and Development Authority of India (Irdai) has advised all health insurance companies to provide medical cover for Coronavirus (COVID-19) in order to avoid any hardships with immediate effect. Irdai has issued guidelines regarding the same.

The instructions are issued under the Provisions of Section 14 (2) of Irdai Act.

"If coverage is granted for treatment of hospitalisation expenses, in order to alleviate hardships that may be caused to policyholders, all claims reported under coronavirus shall be handled," the circular isssued by the insurance regulator noted.

According to the circular, if hospitalisation is covered under a policy, all coronavirus cases must be expeditiously handled. The costs of medical expenses will be settled in line with the terms and conditions of the policy contract.

Before rejecting any coronavirus claims, a thorough review must be conducted.

Coronavirus cases in India crossed 60 after Kerala, Maharashtra and Karnataka reported 14 new cases. Amid fears, a combination of two anti-HIV drugs was used for the first time in India in the treatment of two patients. In Kerala, schools and colleges and cinemas will remain closed in the state till March 31.