Insurers keep a social distance from risky Covid covers

Just a fraction of Indian insurers permitted to sell Covid-19 cover are marketing the policies as they see it more as a liability than a profit-making business due to surging number of patients and disproportionate medical expenses witnessed at the global level. Only four of the 29 firms permitted by the Insurance Regulatory and Development Authority of India are marketing such fixed benefit policies and that too on a limited scale, as the new virus’ impact on humans and expenses to treat are completely out of sync with most models that insurers have, said people familiar with the developments.

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