June 24, 2021

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Covid claims cross Rs 9,000cr mark: Irdai

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, SEO, Wordpress Support & Insurance, Mortgage, Loans, Legal, Etc BlogsMumbai: Insurance companies have settled claims worth Rs 9,078 crore arising out of the coronavirus pandemic, regulator Irdai’s chairman S C Khuntia said on Friday.

The bulk of these claims — Rs 7,136 crore — have been paid by non-life insurers, largely under health insurance policies. The life insurance industry has paid Rs 1,242 crore in death claims due to Covid, which has taken a toll on 1.5 lakh lives in the country. For Covid-specific products, the claim amount settled is about Rs 700 crore. The industry has recovered, and insurers are showing positive growth, Khuntia said.

Speaking at the NIA-Swiss Re seminar on the theme of “Navigating Uncertainty: Insight-Driven Innovation”, Khuntia said the insurance industry should help mankind to become resilient to face any such adversity like a pandemic in the future.

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