The Insurance Regulatory and Development Authority of India (IRDAI) has allowed health insurers to offer ‘Corona Kavach’, a standard health cover policy against the Covid-19 threat, as a group insurance policy.
This will facilitate public, and private sector companies as well as other business entities to provide insurance cover to their employees.
“The group policy can provide protection to a large number of employees engaged in manufacturing, services, SMEs, MSMEs, and logistics sectors, migrant workers and bring peace of mind to them, their family members and their employers,” the regulator said in a circular.
The group policy will also be useful for various categories of frontline workers as groups, in case the group consists entirely of doctors, nurses or healthcare workers, the Authority said.
A discount of 5 per cent will be given to them as a mark of recognition of their contribution in the fight against Covid-19.