GI Council warns against experts deceiving policyholders on Covid-19 claims

Normally, business interruption losses are covered under property damage policy

The General Insurance Council (GI Council) has issued a public advisory wherein it has warned that some people claiming to be “insurance experts” are advising policyholders to lodge claims with insurers for losses arising due to coronavirus-led disruption under loss of profit, business interruption policies and are offering their services to get claims settled under such policies.

However, it said, claims under such policies can only be triggered only if the claim is admissible under material damage section.

“Therefore policyholders are advised not to get carried away by the false promises/ suggestions of such entities, that ‘business interruption losses’ arising out of