But the crisis has also brought in a new challenge for general insurance providers, with claims doubling every 30 days
While demand for insurance, especially protection products, has gone go up, affordability is an issue
Non-life and life insurers both have scope for growth, say industry leaders in webinar organised by Business Standard
Virgin Atlantic, which is set to resume its flight services to London from India from next month under the Air Bubble Agreement, said it would offer COVID-19 insurance cover to all customers.
"The initial response for Corona Kavach plan has been encouraging and we are selling between 200-300 policies every day," Ramachandran said
Tax authorities must explain their data demands
The pandemic has promoted people to buy health covers, as the uncertainty around the virus and its effects are rising with the number of infections going up daily
Govt needs to invest more in health care
The high demand for the policy has brought cheer for insurance companies
PM Modi said that India was making enormous efforts to stand on its own feet and linked several initiatives taken recently for this effort
The Centre has asked states and Union Territories to quickly process claims under the Rs 50-lakh insurance scheme for frontline healthcare workers
The Cabinet has approved the extension of AB-SSBY for the next policy plan period from August 20, 2020 to August 19, 2021 at the tendered premium rate of Rs 1,100 per family per year.
Launched by Irdai, the plan's main objective is to make insurance more accessible, affordable and less confusing for policy buyers
Richer households tend to use hospitalisation services more
Arogya Sanjeevani Policy, whether in individual or group form, will also cover treatment of Covid-19 disease
Here is how the premium rates of various health policies stack up
Amid the surge in Covid-19 cases in the country, Corona Kavach has evoked good response within days of its launch by almost all insurers
Corona Kavach, which was launched on July 10 and is being offered by both general and health insurers, is a standard health insurance policy created to meet the treatment requirements for coronavirus
Pandemic exemptions have helped some insurers emerge relatively unscathed
It makes sense to buy Arogya Sanjeevani or the two new policies that the IRDAI has proposed even if you have a comprehensive policy