CORONAVIRUS-RELATED claims paid by insurance companies and health maintenance organizations (HMO) fell in the second half of 2022 from a year earlier amid declining cases.
“The number of claims paid during the second half of 2022 tracked the declining trend of COVID-19 cases,” the Insurance Commission (IC) said in a statement on Wednesday.
The number of claims paid by insurance companies and HMOs declined by 89.38% to 137,478, the regulator said.
The agency cited data from the Department of Health (DoH) that showed COVID-19 cases during the period fell to 287,229 from 1.11 million.
The amount of COVID 19-related claims paid by insurers also dropped to P1.53 billion from P7.65 billion, it added. — AMCS