[FINANCIAL NEWS] National Insurance Company (NIC) has so far paid around Rs 363 crore for Covid-related claims and its claim settlement ratio stands at 92%.
The health insurance portfolio of the industry is showing a growth of about 15% in FY21, and our retail health portfolio has also seen a similar growth. The pandemic was instrumental in increasing the health insurance awareness among general public. There was also a demand for new covers like the Corona Kavach Policy. The group health insurance portfolio has fared well with growth of more than 50%. The motor insurance portfolio though has been adversely hit on account of a fall in sales and also due to vehicles being laid up during the lockdown, says chairman-cum-managing director Tajinder Mukherjee in an interview.