COIMBATORE: The Insurance Regulatory and Development Authority of India (
IRDAI) has said that HIV-positive individuals cannot be denied insurance cover, unless supported by actuarial studies. The regulator has asked insurers to stop discriminating against persons with
HIV/AIDS.
IRDAI has made this mandatory after 'The Human Immunodeficiency Virus (
HIV) and Acquired Immunodeficiency Syndrome (AIDS) (Prevention and control) Act, 2017' came into force from September 10. The Act bars insurance companies from discriminating against HIV-positive individuals. However, most insurance companies have stayed away from launching products for HIV/AIDS patients due to pricing-related issues.
"If the immunity is low due to a person being HIV-positive, treatment expenses go up several times. The cost of tests and duration of stay in the hospital for HIV-positive patients would be much more compared to regular patients. That is why insurance companies are wary about offering cover for persons with compromised immunity," a senior industry official said.
New India Assurance Company CMD G Srinivasan said, "The problem is that insurers do not have enough data to design a cover for HIV-positive patients. We can offer coverage for early-stage HIV-positive patients with certain caveats and conditions." Star Health Insurance was the first company in the country to come out with an exclusive policy for such patients on a group basis. The 'Star Netplus Insurance Plan' is a special policy catering to HIV positive patients.