The basic role of insurers has always been to protect customers against financial losses or adverse events such as the ongoing novel coronavirus (2019-nCoV) outbreak. However, it is during such difficult times that insurers can better demonstrate their commitment towards serving their policyholders and the wider community by announcing special measures and providing support for affected policyholders.
Commenting on insurance coverage of the infection, Asia Care Group managing partner, healthcare, Asia-Pacific Thalia Georgiou said, “It is important to remember that the coronavirus is a type of flu virus. Therefore, policies which normally cover flu, will also cover this particular strain. We expect most insurers to reassure existing policyholders by making them aware of their benefits.”
The typical symptoms of the infection – fever, runny nose, sore throat, cough and shortness of breath – are similar to that of regular pneumonia and require supportive medical treatment to be provided to the patient based on his/her clinical condition.
This means hospitalisation and medical treatment costs vary from person to person and not everyone will be fully covered by their insurance policies.
“We have seen some insurers go further and offer free extended coverage to existing policyholders who have entry-level plans that have low overall benefits limits.