New Delhi, Sep 13 (PTI) Regulator IRDAI on Monday allowed insurers to continue selling and renewing short-term Covid specific health insurance policies till March 2022.

Amid rising number of coronavirus cases in the country, the Insurance Regulatory and Development Authority of India (IRDAI) had last year asked all insurance companies to come out with 'Corona Kavach' policies (standard indemnity based health policy) and Corona Rakshak policies (standard benefit-based health policy).

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Several insurance companies had come out with short-term products, which became popular because of lower premiums compared to regular health insurance policies.

In a circular, the regulator said all insurers are "permitted to offer and renew" short-term Covid specific health policies up to March 31, 2022.

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Meanwhile in another circular, the IRDAI said the exemptions granted general insurers for issuance of electronic policies as well as dispensing with physical document and wet signature have been extended up to end-March 2022.

The regulator had granted the relaxation last year after received representations from the insurance companies for exemption from the requirement to issue physical policy document and hard copy of proposal form in the wake of the Covid-19 pandemic.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)