Surge in Covid-19 cases leaves non-life insurers on tenterhooks

In FY21, non-life insurers had settled 849,034 claims amounting to Rs 7,833 crore

Non-life insurers are bracing for a likely impact of the rapid rise in Covid-19 cases in the country over the past few weeks. This comes as hospitalisations have started increasing, although marginally, thus reversing the declining trend seen post the second wave.

Insurance experts have pointed out that the increase in hospitalisation has already started reflecting on their claims figure, thus raising concerns for the health insurers, going forward.

According to Bhaskar Nerurkar, head – health claims, Bajaj Allianz General Insurance, the slow rise in Covid-related hospitalisations has already started reflecting on claims.  “There was a continuous decline in the number of