MUMBAI: The insurance regulator has said that all indemnity-based health insurance products that cover treatment costs of hospitalisation will include those toward the Omicron variant of Covid. In a separate order on Digit Insurance, the regulator said that non-life companies cannot provide a death benefit in their policies.
This clarification puts to rest any speculation over the admissibility of claims arising out of the new variant. Last year, the regulator had told insurance companies that health policies must cover Covid infection even though worldwide some companies rejected claims on the grounds of pandemic exclusion. “Insurance companies shall put in place an effective coordinating mechanism with all their network providers (hospitals) to make available seamless cashless facility to all policyholders in the case of hospitalisation if any and render speedy services to all policyholders,” Irdai said.
This clarification puts to rest any speculation over the admissibility of claims arising out of the new variant. Last year, the regulator had told insurance companies that health policies must cover Covid infection even though worldwide some companies rejected claims on the grounds of pandemic exclusion. “Insurance companies shall put in place an effective coordinating mechanism with all their network providers (hospitals) to make available seamless cashless facility to all policyholders in the case of hospitalisation if any and render speedy services to all policyholders,” Irdai said.
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