Covid cashless insurance: IRDAI tells insurers to decide on claims in 1 hour

The Insurance Regulatory Development Authority of India has informed insurance firms to decide on Covid-19 cashless insurance claims in an hour after the request is filed.

The Insurance Regulatory Development Authority of India (IRDAI) has set a time limit for insurance companies to approve cashless claims against Covid-19 hospitalisation. The move comes after it had asked network hospitals and insurance companies to prioritise cashless insurance claims. According to the insurance regulator, the move will lead to the faster discharge of patients and make beds available for others who require them urgently. In a notification on Thursday, IRDAI said a decision on authorisation for cashless treatment for Covid-19 claims shall be communicated to the network hospitals within a period of 60 minutes from the time of receipt of the request.