Low premiums make firms wary of Covid-19 pandemic covers, say experts

Since their launch in July last year, these covers have generated strong sales, which started slowing towards the end of FY21

Some insurers are reluctant to offer standard Covid covers, say industry experts, as cases rise at an alarming rate, making such products unviable for them, especially given their low premiums. This comes a day after the regulator advised insurers to not deny such cover to consumers hit by a devastating second wave of Covid-19.

In a statement on Monday, Irdai said all general and health Insurers are mandated to offer Corona Kavach and Corona Rakshak policies. 

A senior executive with a private insurance firm said when these products were introduced last year, insurers sold them to help people get cover against Covid.