Finance Ministry asks IRDAI to act against insurers for denying cashless COVID-related claims

Finance Minister Nirmala Sitharaman has recently asked IRDAI chairman S.C. Kunthia to “act immediately” to address the complaints of denial of cashless claims by insurance companies. She also mentioned that more than 9 lakh COVID-related claims for Rs. 8,642 crore have been settled by insurance companies. IRDAI, in turn, has asked insurance companies to prioritise settlement of COVID claims.

Sitharaman, in a series of tweets, said, “Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI, Shri SC Khuntia to act immediately. In March, 2020 COVID included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals.”

She further stated, “As on 20/4/21, over 9 lakh COVID related claims have been settled by insurance companies for Rs. 8,642 Cr. Even tele-consultations can be covered. IRDAI shall direct companies to prioritise authorisations and settlements of COVID cases.”