November 6: Insurance companies have been instructed to settle the claims for Covid-19 insurance based on the application date. The Insurance Board has instructed the insurance companies to settle such claims by adding Rs 81 million to the fund of Rs 1 billion released by the government for same very purpose.

"We have instructed the companies to make payments based on the date of claims," ​​said Surya Prasad Silwal, chairman of the board.

He said that the companies have been instructed to start disbursing funds immediately.

He added that the settlement of claims will give a positive message.

“It will dispel doubts that those insured might not get the insurance amount,” said Silwal.

The board initiated the Covid-19 insurance scheme immediately after the start of the Covid-19 pandemic three years ago.

All 20 non-life insurance companies sold this policy to a total of 1,758,000 people. Among them, 165,059 have claimed insurance worth Rs 15.82 billion. So far, the insurance companies have settled claims worth Rs 4.98 billion made by 51,669 people.

Although there is no pandemic insurance in other countries of the world, the board had started Covid-19 insurance as its social responsibility. However, as the number of infected people increased, the companies stopped settling the claims stating that they could not afford it. They also blamed the government for the delay in releasing the amount it had pledged to provide as relief.

However, the government has already  decided to release the amount upon the recommendation of the board.