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Fatal motor accident claim settled in 10 days, a 1st in India


Fatal motor accident claim settled in 10 days, a 1st in India
​ By
IANS
|
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Road accident.. Image Source: IANS News
Chennai, July 4 : A motor third party death accident compensation claim settled in 10 days in India! Well, it is not a joke. But it actually happened in the nation s capital in May this year.
Thanks to the pilot project called Fast Track Dar Scheme that began on May 1, 2021.
The family of a Delhi Police constable received a sum of Rs 32 lakhs as compensation in 10 days after he was killed in a road accident, said participants in a webinar organised by the General Insurance Council of India and Bajaj Allianz General Insurance Company Ltd under the aegis of Delhi State Legal Services Authority (DSLSA) on Saturday. ....

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4 ways to increase your health insurance cover as it may not be enough for covid


Synopsis
At the time of buying the health plan if your focus was more towards going for lower premium, then the chances are the that your health plan may have various sublimits, copayment or deductibles.
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During the novel coronavirus pandemic, on average an insured Indian has been paying at least 40% of the covid-related medical expenses from their own pocket. In other words, health insurance policies have not been fully paying for the medical expenses incurred by people due to the virus.
According to General Insurance Council of India data, from since beginning of the covid 19 pandemic last year till May 14, 2021, on average an insured Indian was paying around 40% of the covid treatment costs from his/her own pocket with average payment of Rs 95,622 against a claim size of Rs 1.54 lakh. A total of 14.82 lakh Covid-19 claims worth Rs 23,000 crore were reported during this period out of which only 12.33 lakh (83%) claims worth Rs 11,700 crore (51%) were ....

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Covid patients pay 40% medical cost from pocket despite insurance


Covid patients pay 40% medical cost from pocket despite insurance
A big reason behind a difference in insurance claims and settlement amount, and rejection of a large number of claims, is unpreparedness of insurers who did not anticipate such a large influx of claims
BusinessToday.In | May 20, 2021 | Updated 16:50 IST
Insurers are rejecting renewal of such policies despite the regulator having told insurers to renew these policies up to September 30
Covid-19 patients are paying as much as 40 per cent of treatment costs from their pocket despite health insurance. Insurers have been selling short-term COVID-specific policies Corona Kavach and Corona Rakshak in bulk since last year. ....

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