– October 15, 2020In the first half of 2020, the Insurance Regulatory and Development Authority of India (IRDAI) had introduced COVID-19-specific policies such as Corona Kavach & Corona Rakshak. Such policies are available to be purchased from health insurance companies. These policies are short-term in nature and need to be renewed by the policyholder for uninterrupted coverage. Recently, the IRDAI has come up with a guideline regarding the renewal of such policies. The notification is regarding the Waiting Period associated with the policies. The guideline states that insurance companies should not impose the 15-day Waiting Period when it comes to the renewal of Corona Kavach & Corona Rakshak policies as per the applicable terms and conditions. The policies should be renewed before their expiry date for continuous coverage. Migration and portability of Corona Kavach and Corona Rakshak policies is also permitted by IRDAI.