Second wave of Covid-19: Rising death claims keep insurers on tenterhooks

Most life insurance companies have set aside provisions for such claims, over and above what they had set aside during the first wave.

Topics
insurance plans | death claims

Subrata Panda  |  Mumbai 

An alarming rise in deaths due to Covid in the second wave of the pandemic has kept life insurers on tenterhooks. A rise in fatalities will eventually lead to an increase in Covid-related death claims, denting profitability. Most life insurance companies have set aside provisions for such claims, over and above what they had set aside during the first wave.

Despite higher provisions, the second wave has come as a shock to the life insurance industry. Many believe they may need to increase their provisions, depending on the severity of the impact of the wave on the claims front. However, ...

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: Thu, June 03 2021. 06:10 IST
RECOMMENDED FOR YOU
.