CURRENT AFFAIRS

Detailed explanation-1: -All the General and Standalone Health Insurers are mandated to offer Individual Covid Standard Health Policy “Corona Kavach Policy”.

Detailed explanation-2: -All COVID claims with or without pre-existing co-morbid conditions are covered. No sub limits for room rent, doctor’s fees, medicines, diagnostics and other related charges. PPE Kit, gloves, mask, cost of Pulse oximeter, Oxygen cylinder, nebulizer and such similar other expenses are covered.

Detailed explanation-3: -IRDA is an acronym of the Insurance Regulatory and Development Authority. The IRDA meaning is explained in this section. The sole purpose of constituting IRDA was to optimise the existing insurance industry in India and to provide new avenues for development.

Detailed explanation-4: -1. The objective of supervision as stated in the preamble to the IRDAI Act is “to protect the interests of holders of Insurance policies, to regulate, promote and ensure orderly growth of the Insurance industry”, both Insurance and Reinsurance business.

Detailed explanation-5: -1) The full form of IRDA is Insurance Regulatory and Development Authority of India. It is an entity owned by the India Government; it controls India’s insurance industry.