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Insurers settle 54% of Covid claims, 1.41 lakh cases still hanging.

At a time when the country is witnessing the second wave of the Covid pandemic, insurance companies have settled only 54 per cent of the claims received from the customers who have taken Covid health insurance as of March 2021. Of total claims of Rs 14,680 crore under the Covid health insurance schemes, insurers have settled only claims worth Rs 7,900 crore, which is 54 per cent of amount claimed by insured people.

On top of this, while 9,96,804 people made claims as of March 2021, insurers have only settled the claims of 8,55,250 people, leaving out 1,41,554 people who are yet to get the money from insurance companies, according to figures available with the General Insurance Council. This delay is despite insurance regulator Irdai advising all general and health insurers to decide on settlement of health insurance policies pertaining to Covid-19 within two hours.

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