The Insurance Regulatory and Development Authority of India (IRDAI) has reached out to life and general insurers on COVID-19 preparedness, sources informed CNBC-TV18.com.
It has asked general and health insurers to keep hospital networks on standby and focus on cashless claims. It has further asked life insurers to assess their capital situation.
The insurance regulator has told insurers to promote COVID-19 vaccination through advertisements. The discussion with insurers on COVID-19 preparedness is, however, only advisory in nature.
This comes at a time when spurt in cases can be seen in Japan, United States of America, South Korea, Brazil, France and China. Chinese cities are currently hit by the highly transmissible Omicron strain mostly BF.7 which is the main variant spreading in Beijing and is contributing to a wider surge of infections in that country.