The covid surge in China and an uptick in few other nations, has pushed India's insurance regulator IRDAI into action, in order to enhance booster vaccine coverage. It has recommended discounts on renewal of policies by insurance providers for policyholders who have taken their third dose of the covid vaccine.
Since an easy to administer nasal vaccine is also being considered as a booster, the Insurance Regulatory and Development Authority of India (IRDAI) has also asked insurers to speed up the settlements for claims related to COVID with minimum documentation.
Incentives for policyholders who get RT-PCR tests have also been reportedly recommended. Equipped with social media reach, the insurers have also been asked to spread awareness about testing norms for international travel.
Insurers also need to make sure that hospitals don't charge deposits for COVID-19 hospitalisation as some of them had been caught doing so in the first and second waves.
On their part, insurance firms seek standardisation of treatment protocol from the IRDAI, in order to prevent fraud.
