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29 insurers launch new standard health products, to cover Covid-19 treatment costs

Besides newly launched ‘Arogya Sanjeevani’ IRDAI has already clarified to the public, that the existing indemnity based health insurance products, that cover the treatment costs of hospitalization offered by all general and health insurance companies,also cover the costs of hospitalization treatment on account of COVID -19.

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Caronavirus Pandemic:Nationwide lockdown to cost Indian economy $4.64 bn every day: Acuite Ratings

Sankar Chakraborti, CEO, Acuite Ratings & Research, said: “Acuite Ratings estimates that every single day of the nation-wide lockdown will cost the Indian economy almost USD 4.64 billion. Consequently, the 21-day lockdown will result in a loss of GDP of almost USD 98 billion.”

In such a lockdown scenario, the sectors that are most severely impacted are transport, hotel, restaurant, and real estate activities.

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Coronavirus Pandemic: World Bank approves $1-bn emergency fund for India

“In India, $1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response.

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Medical Devices notified as drugs from 1 April 2020

“Therefore, the maximum retail prices (MRPs) of all the medical devices would be monitored by the government under the provisions of Para 20(1) of the DPCO, 2013, to ensure that no manufacturer/importer increases the MRP of a drug more than 10 per cent of MRP during preceding 12 month and where the increase is beyond 10 per cent of maximum retail price, it shall reduce the same to the level of ten percent of maximum retail price for next twelve months,” the statement said.

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