Insurance Regulatory Authority of India (Irdai) chairman SC Khuntia on Friday said the insurance industry had been able to adapt to challenges posed by the pandemic and was resilient in providing services to policyholders without any disruption.
In cases of claims related to the pandemic, the general insurance industry has made payments amounting Rs 7,136 crore and the life insurance industry has paid claims of Rs 1,242 crore. For corona-specific products, the total claim settled so far was about Rs 700 crore, Khuntia said, adding that the industry has recovered and is showing a positive growth.
