Consider discount on policy renewal for those with 3 doses of COVID-19 vaccine: Irdai to insurers

Amid a surge in coronavirus cases in several countries, regulator Irdai has asked insurers to consider giving discount on renewal of general and health insurance policies to policyholders who have taken three shots of COVID-19 vaccine.

The Insurance Regulatory and Development Authority of India (Irdai) has also asked both life and non-life insurance companies to settle COVID-related claims at the earliest and reduce paper work, sources said.

During a meeting to create awareness about COVID-19 last week, sources said, the regulator also stressed that insurers should offer incentives to policyholders on getting RT-PCR tests done through their wellness network.