Insurance Board directs to pay COVID-19 insurance claims within a week

KATHMANDU: The Insurance Board (IB) has directed the insurance companies to pay the insurance claims against coronavirus infection within a week.

Chairman of the Board Chiranjeevi Chapagain said that the Board has given instructions to the companies after the insured persons complained that the companies had not paid their claims for a long time.

“There was some delay as the claims from the insured persons were asked to be verified only with the records of the Department of Epidemiology and Disease Control,” said Chapagain.

Meanwhile, Finance Minister Bishnu Poudel has also called the chairpersons and representatives of the Board and instructed them to make arrangements for the payment of COVID-19 Insurance within a week and send the daily progress to the Ministry of Finance.

When a person insured for 100,000, the premium (insurance fee) was fixed at Rs 1000 for an individual and Rs 600 for each member of the entire family.

If the PCR is positive, you have to go to the hospital and if you spend there, you can get a claim equal to the insurance claim only on the basis of the recommendation of the doctor and the recommendation of the ward.

Otherwise, a person who is cured of coronavirus infection at home will get a claim of only Rs 25,000.

Before making the new arrangement, 1,935 persons had claimed insurance of Rs 182.9 million till September 13. Insurance companies had collected Rs 74 billion in premiums during the period.