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FM asks IRDAI to act against insurers for denying cashless claims

‘Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI Shri SC Khuntia to act immediately. In March’20 #Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals,’ the minister said in a series of tweets.

The Insurance Regulatory Development Authority of India (IRDAI), she added, has asked insurance companies to prioritise settlement of COVID claims.

`Insurer can’t invest more than 10% of their outstanding debt in a single InvIT/REITs issue’

-The cumulative Investments in Units and Debt Instruments of InvITs and REITs shall not exceed 3% of total fund size of the Insurer at any point of time.

– No investment can  be made in Debt instruments of an InvIT/REIT where the sponsor is under the promoter group of the insurer.
Investment in Debt Instruments of InvIT will form part “Infrastructure Investments”.

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