BENGALURU: As of September, Covid now forms 40% of
total health claims
for the
general insurance industry
. It has been steadily increasing from 8% in May to 23% in July to 34% in August — as cases rise and reliance on private healthcare increases.
“This is scary — Covid claims now nearly form half of total health industry claims. And one must remember that non-Covid claims have also been increasing. In March and April when the lockdown was severely enforced, we saw people postponing planned surgeries like a
cataract
operation or knee-cap surgery. But in September, non-Covid claims had risen because of the pile-up; caused by people postponing necessary treatment in the first half of the lockdown,” says Amit Chhabra, business head - health,
Policybazaar.com
.
Analysts also worry rising Covid claims could put more pressure on the books of insurers, particularly the three PSUs.
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