Coronavirus: Irdai asks insurers to design products covering treatment cost

The regulator has also made it clear that in existing products where the cost of hospitalisation is covered, insurers have to make sure that cases related to coronavirus are dealt with expeditiously.

The insurance regulator on Wednesday issued guidelines to health insurers on how to handle coronavirus claims, and asked firms to design products covering the cost of treatment.
 
“In order to provide need-based health insurance coverage, insurers are introducing products for various specific diseases including vector-borne diseases. For the purpose of meeting health insurance requirements of various sections, insurers are advised to design products covering the costs of treatment for coronavirus,” said the Insurance Regulatory and Development Authority of India (Irdai).
 
The regulator has also made it clear that in existing products where the cost of hospitalisation is covered,