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Indian News

India records over 10,000 COVID-19 cases in single day, tally nears 3 lakh: Health Ministry

Of the 396 new deaths reported till Friday morning, 152 were in Maharashtra, 101 in Delhi, 38 in Gujarat, 24 in Uttar Pradesh, 23 in Tamil Nadu, 12 in Haryana, 10 in West Bengal, nine in Telangana, six in Rajasthan, four each in Madhya Pradesh and Punjab, three each in Bihar and Karnataka, two each in Andhra Pradesh, Assam and Puducherry and one in Jammu and Kashmir.

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IRDAI standardises terms and clauses of health Insurance policy 

In case of multiple policies taken by an insured person during a period from one or more insurers to indemnify treatment costs, the insured person will  have the right to require a settlement of his/herclaim in terms of any of his/her policies. In all such cases the insurer chosen by the insured person are obliged to settle the claim as long as the claim is within the limits of and according to the terms of the chosen policy.

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Insurers can’t deduct cost of implants,medical devices, and diagnostics in health policies:IRDAI

“IRDAI has mentioned that insurers need to define the associate medical expenses which will be deducted proportionately if a person opts for a higher room category than the category that is eligible as per terms and conditions of the policy. Additionally, it has mentioned that expenses like cost of pharmacy, cost of implants, cost of diagnostics, etc. will not fall under the definition of ‘associate medical expenses’ and hence, proportionate deduction for such expenses will not be applicable along with the ICU charges as well. Insurers will negotiate with their hospital networks to see that the increase in rates of the associate medical expenses with change in room category are in control so as to benefit the customer,” Bhaskar Nerurkar, head,health claims, Bajaj Allianz General Insurance said. 

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India’s economy to shrink further in fiscal year 2020-21:World Bank

International rating agencies like Moody’s Investors Service, Fitch Rating and S&P Global Ratings have all predicted a 4-5 per cent contraction in India’s economic growth rate during April 2020 to March 2021 fiscal. Crisil has said this would be the country’s fourth recession since Independence, first since liberalisation, and perhaps the worst to date.

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