Covid-19 insurance: IRDAI may extend Corona Rakshak Policies

The Covid-19 specific health insurance policies rises after corona cases spread across the country India. The Covid-19 policies such as Corona Kavach and Corona Rakshak will be made mainstream and timelines could be extended according to the Insurance Regulatory and Development Authority of India ( IRDAI ) spokesperson said, TL Alamelu.

The decision of Covid-19 insurance polices are extended till March 2021. She was speaking during an Associated Chambers of Commerce of India web conference on Friday. The last regulator in Covid-19 policies are regulated in the month of July.

The popularity of the two standardised policies has been growing since cases rises according to Alamelu, In the number of policies said, Corona Kavach still clocked at a 15% weekly growth, she said adding that most policyholders have chosen the 9.5 months coverage plan.

The regulator was also considering a digital health platform for settlement of claims that would involve all stakeholders in the health insurance ecosystem.

We would be stitched up with the National Digital Health Mission so that we have a broad platform of everything going digital, “Alamelu.