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Covid Insurance Claim-60mins

Fri 30 Apr, 2021

Why in News?

  • Insurance regulator IRDAI has directed insurers to approve Covid-related cashless claims within 60 minutes of receiving appropriate documents from the claimant.
  •  IRDAI announced the new rules after Delhi High Court directed it to do so.
  •  It will help hospitals to free patient’s beds quickly for new patient’s .It was earlier reported that network hospitals are turning back Covid patients with cashless insurance.

Static GK:

  • Insurance Regulatory and Development Authority of India or the IRDAI (also referred to as IRDA) is a government body responsible for regulating and developing the insurance industry in India
  • It is an autonomous, statutory body. It was established by an act of Parliament known as the Insurance Regulatory and Development Authority Act, 1999.
  • IRDAI headquarters - Hyderabad, Telangana. 
  • Chairman of IRDAI  -Dr. Subhash C. Khuntia