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Non-life insurers receive more than 100K Covid-19 claims worth Rs 1,644 cr

While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19

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While the number of claims related to Covid-19 are rising fast, insurers are not so worried as of now because claims from other segments have fallen

Subrata Panda Mumbai

2 min read Last Updated : Aug 11 2020 | 10:38 PM IST

The rise in the number of Covid-19 cases in the country has led to a surge in health insurance claims. Non-life insurers, as of Tuesday, have received more than 100,000 claims to the tune of Rs 1,644 crore. Of the total claims received, nearly 66,000 claims amounting to Rs 628.95 crore have been settled so far.

When policies were issued, insurers were caught on the wrong foot. “This explains why insurers were worried about hospitals fleecing patients. We wanted the cost to be reasonable and consistent,” said a senior insurance executive.

“The gap in claims reported and claims settled depends on the settlement process.

Topics : Coronavirus Non-life insurers Insurance claims

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