General insurers brace for a rise in non-Coronavirus claims after lockdown

General insurers are bracing for a spike in non-coronavirus (non-Covid-19) health claims in the coming months as normalcy returns after the stringent lockdown is eased by the government.

The rise in claims will mostly come from elective procedures that were postponed on account of Covid-19. This, in turn, will impact the loss ratio of insurers in the health segment.  

During the lockdown period, non-life insurers have seen an almost 40 per cent drop in non-Covid claims. This is because individuals have decided to postpone their non-essential procedures or elective procedures, fearing infection.

This adds to the uncertainty of non-life insurers at a time