CAIT writes to finance minister 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

Press Trust of India March 16, 2020 12:30:38 IST
CAIT writes to finance minister Nirmala Sitharaman seeking insurance cover for coronavirus-hit businesses

New Delhi: 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.

CAIT writes to finance minister Nirmala Sitharaman seeking insurance cover for <span class=coronavirus hit businesses" width="380" height="285" class="size-full wp-image-7363111" />

File image of finance minister Nirmala Sitharaman. PTI

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.

Updated Date:

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