All General and
Standalone Health Insurers (except AIC and ECGC)
Re:Filing of “Corona
Kavach Policy” as group health insurance product
Reference is drawn
to Clause 3 of Section A of Guidelines on Covid Standard Health Policy
(Ref: IRDAI/HLT/REG/CIR/163/06/2020 dated 26th June, 2020) vide
which all the general and health insurance companies (insurers) were mandated
to offer Individual Covid Standard Health product, “Corona Kavach Policy”.
modification of the above referred guidelines, Insurers are hereby allowed
to offer Corona Kavach Policy as group product by duly complying with the norms
allowed to use the standard product name for the group policy after adding the
word “group”, provided all terms and conditions as applicable to the
standard individual policy remain the same except premium rate and
specification on operation of group policy.
The insurersshall determine
the price keeping in view the cover proposed to be offered subject to complying
with the norms specified in the IRDAI (Health Insurance) Regulations, 2016 and
Guidelines notified there under.
The product shall
be filed on Use and File basis by duly complying with the norms specified in
Chapter IV of Guidelines on product filing in health insurance business”(Ref:
IRDA/HLT/REG/CIR/150/07/2016 dated 29th July, 2016) as modified from
time to time.
This group product
shall comply with the all other applicable norms stipulated under “Guidelines
on Product filing in Health Insurance business” (IRDA/HLT/REG/CIR/150/07/2016
dated 29th July 2016).
shall come in to force with immediate effect.
This has approval
of the competent Authority.
D V S Ramesh,