Covid claims filed with insurers reach 475,000, of which 325,000 settled

Insurers to take a major hit with huge spike in August and September; tapering seen in October may bring some relief

Topics
Insurance claims | Coronavirus

Subrata Panda  |  New Delhi 

General insurers and standalone health insurers have seen a huge surge in covid claims the past few months with the number of reported claims surpassing 475,000, amounting to Rs 7,313 crore as of October 27. Sources aware of the development said of these, over 325,000 claims worth Rs 3,146 crore have been settled by insurance companies so far.

At the end of July, only 81,000 Covid claims were filed with insurers. August and September, however, saw a huge rise in claims. Experts say claims intimated in September were close to 50 per cent of the total claims intimated since inception of ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 27 2020. 17:15 IST
RECOMMENDED FOR YOU