Insurers see adverse impact of Covid-19 claims on their loss ratio

A year has passed since the Covid pandemic hit India. Since then, Indian insurers, especially the non-life ones, have seen an unprecedented amount of Covid claims being reported to them.
 
Indian insurers had not factored in the impact of Covid claims while underwriting their products. Therefore, these claims have mostly not been anticipated. Despite that, insurers remain unsure of the impact of such claims on their loss ratios as well as on the pricing of their products.
 
While many say the loss ratio of their health portfolio has taken a hit because of the unanticipated Covid claims, it