IRDAI asks insurance companies to design policies to cover coronavirus

Insurance Regulatory and  Development Authority of India, IRDAI has asked insurers to expeditiously settle hospitalisation claims related to novel coronavirus disease under health policies.

In a circular, the Regulator has instructed insurance companies to come out with policies to cover treatment costs for coronavirus



infection. It said, the costs of admissible medical expenses during the course of treatment including quarantine period, should be settled in accordance to the applicable terms and conditions. All the claims reported under COVID-19 will be thoroughly reviewed by review committee before repudiating the claims