Insurance coverage firms have already settled claims of greater than Rs 16,000 crore as a result of Covid and the numbers are nonetheless rising, in response to trade executives.
Bhargav Dasgupta, MD & CEO, ICICI Lombard Common Insurance coverage in an analyst name mentioned that the second wave impacted the prosperous class having higher insurance coverage. “Covid claims are considerably increased and the reporting tail is longer. Even because the variety of circumstances got here down, average and demanding circumstances had considerably elevated,” he mentioned. ICICI Lombard has elevated costs for group medical health insurance following increased claims.
“As an trade, we