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Insurers could face billions of dollars in fresh Covid-19 claims

Insurers could face billions of dollars in fresh Covid-19 claims
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Synopsis
As per data compiled by the General Insurance Council (GIC) and seen by ET, the insurance industry has registered 10.07 lakh (1 million) coronavirus claims worth ₹14,738 crore (~$2 billion) until April 7, 2021. Of these, insurers have settled 8.6 lakh claims worth ₹7,907 crore, GIC data showed.
Agencies
According to industry experts, the data is yet to reflect the sharp spike in cases since the onset of the second wave as new hospitalisations lag registered claims by two to three weeks.
India’s health insurance sector could face billions of dollars in fresh Covid-19 claims over the coming months as the second wave of the virus takes caseloads to new daily records, particularly in Maharashtra.

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