Expedite COVID-19 claims: IRDAI

All claims ought to be vetted by review committee

The Insurance Regulatory and Development Authority of India (IRDAI) wants insurers to expeditiously handle hospitalisation claims pertaining to COVID-19.

“Where hospitalisation is covered in a product, insurers shall ensure that the cases related to coronavirus disease (COVID-19) shall be expeditiously handled,” the regulator said. On Wednesday, it issued guidelines for handling such claims, which came into immediate effect.

The costs of medical expenses during the course of treatment, including the treatment during quarantine, should be settled in line with the applicable terms and conditions of the policy contract and the extant regulatory framework, general manager (Health), D.V.S. Ramesh said in the circular.

The IRDAI also advised the companies that all the claims ought to be “thoroughly reviewed by the claims review committee before repudiating them.”

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