Rs 6,700 crore pending COVID-19 claims; only 57% settled so far
There are numerous cases in which policyholders have received only about 50 per cent of the total medical bill. For example, if your hospital bill amounts to Rs 8 lakh, the insurer may cover you for Rs 4-4.5 lakh
Only 57% of COVID-19 claims filed with the insurance companies has been settled
The second wave of COVID-19 has burdened the healthcare ecosystem with insurance claims facing huge delays, among other issues. Out of Rs 15,700 crore COVID-19 claims filed with the insurance companies, only 57 per cent or Rs 9,000 crore has been settled so far as of April 2021, informs an industry source. The pending claims stand at Rs 6,700 crore compared to Rs 6,660 as of March 2021.
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Those planning a holiday abroad later this year, or even in 2022, will need travel insurance. From getting sick abroad to having to cancel flights because of self-isolation, or quarantine, the coronavirus pandemic could still ruin holiday plans, making travel insurance essential.
Local insurance broking firm Global Insurance Brokers Limited has teamed up with a Lloyd’s European Coverholder and can now offer this product underwritten by a Lloyds Insurance Company in Belgium.
This comprehensive policy covers various benefits such as cancellation, travel disruption, alternative accommodation, missed departure and transport diversion, travel delay inconvenience, alteration of Itinerary, emergency medical and repatriation, hospital inconvenience benefits, personal accident, baggage and personal effects, money and documents including fraudulent use of credit cards, legal expenses, personal liability, hijack and kidnap as basic coverage.