India outbreak Coronavirus India

Health insurance cover premiums hit a record in May

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₹1,876.31 crore during May this year, a more than twofold increase from ₹870.26 crore in April Indian insurers collected a record ₹7,245 crore in health insurance premiums in May as fear of rising healthcare exigencies in the wake of the coronavirus outbreak gripped masses across the country.Premium collections in May were 61% more than April when collections stood at ₹4,509.36 crore, marking the highest-ever month-on-month growth, showed data from the Insurance Regulatory and Development Authority of India (Irdai).

Insurers underwrote premiums of ₹6,705.20 crore in May and ₹4,279.46 crore in April from the health business last year.Standalone health insurance companies underwrote a total premium of ₹1,876.31 crore during May this year, a.

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