INSURANCE
Covid health insurance policies to also cover Omicron infection treatment costs: IRDAI
Jan-04-2022

Insurance regulator -- Insurance Regulatory and Development Authority of India (IRDAI) has said health insurance policies that cover COVID treatment costs will also cover expenses for treating infections due to Omicron. The regulator has issued the directive to general and health insurers in view of the growing number of cases of the Omicron variant.

It said ‘All health insurance policies issued by all general and health insurance companies that cover treatment costs of COVID-19 also cover the costs of treatment towards Omicron variant of COVID-19 as per terms and conditions of policy contract’. The regulator has also asked insurance companies to put in place an effective coordination mechanism with all their network providers and hospitals to make available seamless cashless facilities to all policyholders in case of hospitalization and render speedy services to all policyholders.

In April 2020 also, Irdai had clarified that all the indemnity based health insurance products that cover the treatment costs of hospitalisation offered by all general and health insurance companies cover the costs of hospitalisation treatment on account of COVID-19.

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