NOVEMBER 16, 2023 | CHICAGO, IL - RT Specialty, the wholesale distribution division of Ryan Specialty , a leading international specialty insurance firm, is pleased to announce that.
The pandemic has made people aware not only about the indispensability of health insurance policy but also about the need to have adequate coverage and seamless services.
Reflecting the wide spread of Covid, insurers report a surge in claims from rural regions, too
May 01, 2021
There has also been an increase in the cashless treatment claims - istock.com/Nuthawut Somsuk×
The average claim size is at ₹1.40 lakh, with some going as high as ₹30 lakh Health insurers are reporting a flood of Covid-related claims from across the country, including rural regions, reflecting the spread of the pandemic.
Rapid rise
Till last month, Covid claims had been mainly from urban areas of Delhi, Maharashtra, Uttar Pradhesh, Chhattisgarh, and Bihar as also some from Tamil Nadu and Karnataka.
“However, we now see a surge in claims from rural areas, too, in line with the rapid surge of the Covid-19 pandemic across regions,” Sanjay Datta, Chief-Underwriting, Claims and Reinsurance, ICICI Lombard GIC, told
Unabated surge in infections may prompt hike in insurance premiums
Industry executives this publication spoke to confirm that there has been a sharp deterioration in the claims ratio due to the significant increase in Covid-19 cases.
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| A+A A- By Express News Service
CHENNAI: If Covid-19 infections continue to rise unabated, insurance companies may be forced to hike their premiums by as much as 15 per cent to deal with the parallely increasing number of Covid-related claims. Industry executives have noted over the past week that the rate of claim settlements are unsustainable for insurers unless the rate of growth in Covid-19 cases is arrested.