Data released by General Insurance Council of India, a trade body of general insurance and health insurance companies shows that of the total 38 lakh coronavirus cases in India, insurance companies have received over 1.73 lakh claims related to coronavirus with the total sum assured of Rs.2700 crore as on August 31, 2020. The claim requests include both cashless and reimbursement settlements of patients undergoing treatments in private hospitals
This indicates that just 4.5% of the total corona patients have availed insurance claims. This is because many state governments like Kerala and Chhattisgarh are offering Covid-19 treatments only in government hospitals, the source said.
Further, the data shows that the insurance companies have settled 1.08 lakh claims with sum assured of Rs.1040 crore as on August 31, 2020.
The highest number of covid-19 insurance claims have been reported in Maharashtra with 71,240 claims. This was followed by Tamil Nadu, Gujarat, and Karnataka with 20,807, 14,482 and 14,482 claims respectively.
The least number of insurance claims were reported in northeastern states like Nagaland, Mizoram, Arunachal Pradesh, Sikkim, and Manipur.
Earlier, IRDAI has asked insurance companies to settle claims related to covid-19 within 2 hours.