Page 12 - Insurance Times September 2020

demic. Irdai has asked for feedback health services such as outpatient con- the said third party is responsible for
from stakeholders and the final circu- sultations or treatments, pharmaceu- providing the services stipulated under
lar is expected soon. ticals, health check-ups/diagnostics in- the wellness features and insurer is not
cluding discounts under the policy. liable for any defects or deficiencies on
IRDAI allows electronic The regulator said they can issue re- the part of the service provider.

health policies deemable vouchers to obtain health
Insurance Regulatory and Develop- supplements and redeemable vouchers IRDAI committee proposes
ment Authority of India (IRDAI) has for membership in yoga centres, gym- insurance for drones in
allowed insurance companies to issue nasiums, sports clubs and fitness cen- line with aviation liability
electronic health insurance policies. tres for participating in fitness activi-
ties. A Working Committee of the Insurance
"Insurers should send the policy docu- Regulatory and Development Author-
Insurers can also offer discounts on
ment and a copy of the proposal form ity of India (Irdai) has recommended a
through digital/electronic mode. They premiums or increase in sum insured at comprehensive insurance cover for
shall be sent to the registered e-mail the time of renewals based on drones with a third-party liability which
id or mobile number provided y the wellness regime followed by policyhold- should be in line with aircraft or avia-
customer only on the specific consent ers in the preceding policy period, pro- tion liability - as is the practice in the
provided by the policyholder," IRDAI vided increase in sum insured should be developed nations - instead of follow-
independent and not linked to the cu-
said. ing the Motor Vehicles Act.
mulative bonus offered, if any.
Gurdeep Singh Batra, head-retail un- While drone operators continue to
derwriting, Bajaj Allianz General Insur- Irdai said insurers should not publish have minimum levels of insurance such
the trade names or trade logos of third
ance, said, "Issuing electronic policies as third-party liability cover, the com-
party merchandise in any of the insur-
as per the IRDAI's circular is definitely mittee on remotely piloted aircraft
a positive step considering the current ance advertisements, but may refer systems/ drone technology said this
the services in generic term. However,
pandemic situation and the challenges may not be comprehensive enough to
insurers should disclose specific items
in issuing physical policy documents or address the requirement of drone op-
of services on their website with nec-
proposal forms. erators. If an accident occurs there is
essary details and may provide a link
This not only improves the turnaround to this in their insurance advertise- a risk that coverage is not comprehen-
time for policy issuance, but also se- ment and policy contracts. sive and that an injured member of the
cures the policy documents electroni- public may not be able to obtain ad-
cally with the policyholder as well as Gurdeep Singh Batra, head-retail un- equate compensation, or do so easily,
the insurer." Since all the documents derwriting, Bajaj Allianz General Insur- from the drone operator, it said.
are transacted online and maintained, ance, said, "The Irdai guidelines on in- The Irdai committee has said drone
it also improves transparency between cluding wellness and preventive fea- insurance coverage can be broken into
tures in health insurance is certainly a
the insurer and insured," Batra said. three sets - physical damage or loss to
positive step forward for customers
who can now proudly own their health drone due to various contingencies,
IRDAI unveils guidelines to insurance policies." third party liability arising due to usage
allow wellness features as "It will allow us to reward customers of drone and any additional coverages.
This insurance does not apply to any
add-on cover to health in various ways specified like discounted liability arising out of or connected di-
outpatient consultations or treat- rectly or indirectly with any aircraft
policies ments, pharmaceuticals, health check- product or any missile or spacecraft or
The Insurance Regulatory and Devel- ups/diagnostics, redeemable vouchers
aerial device including any article,
opment Authority of India (Irdai) has for health supplement and also mem-
equipment, material, part or spare
unveiled the final guidelines on allow- bership in fitness centres, sports clubs, part installed or otherwise incorpo-
ing wellness and preventive features etc," he added. rated in, on or under any aircraft, mis-
under a health insurance policy as op- According to Irdai, insurers should not sile, spacecraft or aerial device or fur-
tional or add-on cover. accept any liability towards quality of nished or used in connection with air
According to Irdai, empanelled hospi- the services made available by third or space communication, guidance or
tals and network providers can offer parties and should specify upfront that navigation system.

10 The Insurance Times, September 2020