ICICIGI gains post launching COVID-19 insurance policy

The general insurance company, ICICI Lombard, gained today post hitting a fresh 52-week low on Thursday. At the time of market opening on Friday, the stock was trading at Rs 1,057.05, up by 3.55 per cent. The development is a result of company’s new policy, which included an insurance cover for Coronavirus infected people.

Launched with the name-‘COVID-19 Protection Cover’, the company said in a BSE filing released on Thursday after market hours that the policy provides 100 per cent expenses to the person, who is diagnosed as Coronavirus positive, subject to initial waiting period of 14 days. The statement further stated that the policy will fully cover the hospital charges but only if it is a government-run facility or a government-approved lab.

Adding to this, ICICI Lombard said that the health cover, which is launched in group mode, is priced affordably at a premium of Rs 149 and offer Rs 25,000 payout, including value-added benefits such as virtual, tele-consultation and ambulance assistance. The special policy is restricted to one year and covers the age group of 18 to 75 years.

At 3.30 pm on Friday, the stock of ICICI Lombard General Insurance Company Ltd was trading at Rs 1,027.40, up by 0.65 per cent against its previous close of Rs 1,020.80. Its 52-week high is Rs 1,439.90 and its 52-week low is Rs 805.60 on BSE.