Money & Banking

FM speaks to IRDAI Chairman on Covid insurance claims

Hyderabad | Updated on April 23, 2021

As on 20/4/21, over 9 lakh Covid-related claims have been settled, Nirmala Sitharaman tweeted

Finance Minister Nirmala Sitharaman has said that she had a talk with the Insurance Reguator on the issue of cashless treatment at networked and temporary hospitals for treatment of Covid patients.

In a tweet, the Finance Minister, mentioned “Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI SC Khuntia to act immediately. In March 20 #Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals.”

In another tweet, the FM wrote, “As on 20/4/21, over 9 lakh #Covid related claims have been settled by insurance companies for ₹8642 Cr. Even tele-consultations can be covered. IRDAI shall direct companies to prioritise authorisations and settlements of #Covid cases.”

IRDAI issues clarification on cashless claims in Covid-19 cases

Taking a serious note of reports on denial of cashless treatment for eligible Covid-19 patients, the insurance regulator said cashless treatment facility cannot be denied. Business Line had reported this earlier.

“It is clarified that the policyholders are entitled to cashless facility at all such network providers (hospitals) with whom the insurance company/TPA (third party administrator) has entered into an agreement in accordance to the norms of service level agreement (SLA),” the Insurance Regulatory and Development Authority of India (IRDAI) said in a circular.

IRDAI allows sale of short term Covid insurance policies till September 30

Published on April 23, 2021

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