Insurance regulator asks insurers to sell, renew COVID-19 risk cover
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With complaints of life and non-life insurers not selling or renewing standard coronavirus specific health insurance policies Corona Kavach and Corona Rakshak, the Insurance Regulatory and Development Authority of India (IRDAI) has advised the former not to deny the risk cover.
In a softly worded letter to the life and non-life insurers, the IRDAI advised them saying it is not correct to deny such coverage to the customers in this crucial time when the second wave of Covid-19 is spreading fast. All insurers are advised to ensure that wherever Corona-specific standard products have been filed and approved by the Authority, the same should be offered to the customers according to the insurer s underwriting policy, the IRDAI told the insurers,
Covid-19: Can you claim insurance for hotel isolation, treatment?
Due to an acute shortage of hospital beds, many Covid-19 positive patients are opting for hotel isolation and treatment. Find out under what circumstances you can claim insurance if you are isolating or receiving treatment at a hotel with Covid care facility.
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UPDATED: May 7, 2021 12:27 IST
Many hotels have been converted into Covid-19 care facilities during the second wave of Covid-19. (Photo: Representational image)
With Covid-19 cases rising sharply in the country, major cities are facing an acute shortage of hospital beds. In such a scenario, people who have tested positive have two options to isolate themselves.
Covid cashless insurance: IRDAI tells insurers to decide on claims in 1 hour
Covid cashless insurance: IRDAI tells insurers to decide on claims in 1 hour
The Insurance Regulatory Development Authority of India has informed insurance firms to decide on Covid-19 cashless insurance claims in an hour after the request is filed.
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UPDATED: April 30, 2021 19:02 IST
IRDAI has set a time limit for insurance firms to decide on approval of cashless claim requests made by Covid-19 pateints. (Photo: Pixabay/Representational image)
The Insurance Regulatory Development Authority of India (IRDAI) has set a time limit for insurance companies to approve cashless claims against Covid-19 hospitalisation. The move comes after it had asked network hospitals and insurance companies to prioritise cashless insurance claims.
IndiGrid InvIT hits public bond sale, gets double subscriptions
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Synopsis
A large Mumbai-based infrastructure conglomerate and a private life insurance company attached to a “salt-to-steel” group bid to own those papers with yield-hungry wealthy investors taking the lead, sources told ET.
Investor response defied an existing arid bond street, dented by the second wave of coronavirus.
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MUMBAI: KKR-backed India Grid Trust (IndiGrid Trust), a power sector infrastructure investment trust (InvIT), obtained more than double subscriptions for its maiden public bond sale that opened for subscription Wednesday amid an economic depression.
A large Mumbai-based infrastructure conglomerate and a private life insurance company attached to a “salt-to-steel” group bid to own those papers with yield-hungry wealthy investors taking the lead, sources told ET.
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Highlights
She mentioned that more than 9 lakh COVID-related claims for ₹8,642 crore have been settled by insurance companies.
The active cases have increased to 22,91,428 comprising 14.38 per cent of the total infections.
The death toll increased to 1,84,657 with a record 2,104 new fatalities.
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Thursday asked IRDAI chairman S C Kunthia to act immediately to address the complaints of denial of cashless claims by insurance companies. She also mentioned that more than 9 lakh COVID-related claims for ₹8,642 crore have been settled by insurance companies. Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI Shri SC Khuntia to act immediately. In March 20 #Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals, the minister said in a series of tweets.