Covid claims filed with insurers reach 475,000, of which 325,000 settled

Insurers to take a major hit with huge spike in August and September; tapering seen in October may bring some relief

General insurers and standalone health insurers have seen a huge surge in covid claims the past few months with the number of reported claims surpassing 475,000, amounting to Rs 7,313 crore as of October 27. Sources aware of the development said of these, over 325,000 claims worth Rs 3,146 crore have been settled by insurance companies so far.

At the end of July, only 81,000 Covid claims were filed with insurers. August and September, however, saw a huge rise in claims. Experts say claims intimated in September were close to 50 per cent of the total claims intimated since inception