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India’s Health insurance sector is having an adverse effect lately due to Covid-19

India's-Health-insurance-sector-is-having-an-adverse-effect-lately-due-to-Covid-19

India’s Health insurance sector is having an adverse effect lately due to Covid-19 Claims are on continues rise since June and the amounts which are already claimed stood at Rs. 562 crore in less than a month. Maharashtra stood at top place followed by Delhi. Maharashtra having the highest number of cases had also stood on top of list with 15,753 claims, amounting to Rs.195 crore. While Delhi being the worst effected city had 5909 claims which amounted to Rs. 134 crore.

Total Reported claims upto July 3 stood at 34,264 amounting to Rs. 562 crore, while settled claims were 22,998 amounting to Rs.184.9 crore as on that date. Apart from Maharashtra and Delhi, Tamil Nadu, Karnataka, Haryana and West Bengal. The average claim amount rose from Rs. 1.56 lakh in June to Rs. 1.64 lakh in July. But the average settlement amount had reduced from Rs. 90,118 to Rs. 80,427 even though the treatment cost has increased.

Inputs from Praveena Mandapati

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