Corona insured amount to exceed Rs 5 billion, only half paid so far

Kathmandu: The claim payment to Corona insurers has exceeded Rs 5 billion.

According to the Insurance Committee, a total of 51,717 claims have been verified. The total amount to be paid to those applicants is more than Rs 5 billion.

Out of which, Rs 2.46 billion has been paid to 25,313 people so far.

Another 26,404 will have to be paid. According to the committee, the amount to be paid has not been decided yet. The application process is still going on.

Another 14,000 applications are in process. That is, it has already been approved by the insurance companies but is yet to be approved by the Epidemiology Disease Control Division.

After the verification of those applications from the branch, the number of applicants who have to pay for insurance will now reach 40,000. Taking this into account, it is estimated that Corona has to pay around Rs 6.5 billion for insurance.

The non-life insurance companies that have collected a total of Rs 1 billion in premiums for Corona insurance have already paid the entire amount. The company is reimbursing over Rs 1 billion to Rs 2 billion.

Rs 2 billion to Rs 2.5 billion will be borne by the catastrophe bridge of insurance companies.

The Insurance Committee will bear the payment of Rs 2.5 billion to Rs 3.5 billion. Payments above Rs 3.5 billion are clearly mentioned in the Corona insurance criteria to be borne by the government.

There are also examples of some applications being returned. According to the committee, 183 applications have been returned so far.

Those who are insured with two or more companies and have more than two applications are paid only by one company.

Similarly, such applications have been rejected even though some of them have written another name while checking but the name of the real citizen will be used while insuring.

As the number of corona infections has been declining in recent days, the number of applications received from insurance companies has also been declining.

Corona insurance has been implemented through a joint bridge of 20 non-life insurance companies. This plan will be canceled automatically after Chait.

The criteria for corona insurance was revised in the meantime after the number of applications for corona insurance claims became excessive.

Accordingly, only 25 percent of the total sum insured will be paid in cash and the remaining 75 percent will be paid on the basis of the bill for the treatment expenses.

If the corona has already been insured before September 12 but has been infected and applied by April, the full amount will be paid in cash to such applicants.

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