Business World

IRDAI Highlights : IRDAI asks insurers to offer Corona Standard Policy by July 10 Nomenclature of the product should be Corona Kavach Policy Policy should also provide for pre and post hospitalisation medical expenses. A mid rising number of Corona Virus cases in the country, sector regulator IRDAI has asked the general and health insurers to offer short term Covid standard health policy for individuals by July 10. The policy should be offered for 3.5 months, 6.5 months and 9.5 months. The sum insurances could range from ₹ 50,000 to ₹ 5,00,000 ( in multiples of ₹ 50,000 ) The nomenclature of the product should be " Corona Kavach Policy " succeeded by the name of insurance company. The policy should also provide for pre and post hospitalisation medical expenses.