1. It has come to the notice of the Authority that some of the insurers are not offering Corona Kavach and Corona Rakshak Policies to the customers, and some insurers are not renewing such policies.
2. In this regard, your attention is drawn to Clause 3 of Circular Ref No. IRDAI/HLT/REG/CIR/253/10/2020 dated 13.10.2020 which specifies that the insurers have the choice to allow renewal, migration and portability, as may be applicable, for these COVID specific standard health products (i.e “Corona Rakshak Policy”, “Corona Kavach Policy” and “Group Corona Kavach policy”).
3. In the wake of rising infection rates due to the second wave of the Covid-19, the insurable public require appropriate health insurance coverage and it is not correct to deny such coverage to the customers in this crucial time. All insurers are advised to ensure that wherever Corona specific standard products have been filed and approved by the Authority, the same should be offered to the customers according to the insurer’s underwriting policy. Similarly, where the underlying corona specific product enables the insured to renew the policy as specified in the above referred circular dated 13.10.2020, insurers are advised to renew such policies subject to the underwriting policy of respective insurers.
4. As the pandemic has accentuated the need for health insurance, all insurers are advised to actively promote protection through health insurance so as to develop the much needed trust and goodwill of the general public.
