The second wave: Insurers brace for rise in Covid-19 policy claims

The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up.

The insurers have received more than a million Covid-related claims as of April 10, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore. Of this, 865,968 claims worth Rs 7,956 crore have been settled. This is almost 85 per cent of the reported claims. According to the data, the