Covid-19 loss experience on the rise in India

The Indian regulatory authority (IRDAI) reported that as of 22 June 2021, the number of Covid-19- related medical insurance and hospitalization claims reached 1.911 million. 80% of them have been settled by insurance companies for a total sum of 150 billion INR (2 billion USD).

55 276 deaths due to Covid-19 have been reported in life class of business. Insurers have compensated 88% of the claims for 35.93 billion INR (484.31 million USD).

The repudiated claims were set at 4% in health and 0.66% in life insurance.