CAIT writes to Nirmala Sitharaman seeking insurance cover for coronavirus-hit businesses


Traders’ body CAIT has appealed to Finance Minister Nirmala Sitharaman to direct regulator IRDAI to mandate insurance firms to introduce coverage for disruptions to businesses on account of the coronavirus outbreak. In a letter to Sitharaman, CAIT suggested that insurance companies may be mandated to introduce ‘disruptions due to coronavirus’ as an additional cover to fire and materials damage policies, and the existing policyholders may be offered an option to add the additional cover.

Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal highlighted the need for insurers to come up with need-based policies like cover against mosquito-borne diseases and vector-borne diseases, which can cover hospitalisation expenses due to coronavirus or fixed benefits upon its diagnosis.

CAIT has also sent a similar representation to Commerce Minister Piyush Goyal to take up the matter with Finance Ministry.


Source link

Articles You May Like

Prince Philip, husband of Britain’s Queen Elizabeth, dies at 99
Taxpayers have one month left to file 2020 returns. What to know
Wall Street analysts like stocks like Tesla, The Chef’s Warehouse
How Covid safe bubble can be created on cruises
Teen spending on clothes set to rise from pandemic lows: Piper Sandler

Leave a Reply

Your email address will not be published. Required fields are marked *