, Taiwan

Taiwan’s COVID-19 insurance policy complaints surges 

Complaints is now 25 times higher than last year.

Complaints about COVID-19 insurance policies in Taiwan has reached 4,948, 25 times higher than 189 complaints for the whole of last year according to the Financial Ombudsman Institution (FOI).

Of the 4,948, only 6.6% or 331, had been settled by insurers and policyholders with 4,617 yet to be resolved. This is in contrast to last year which saw 55% of 189 complaints resolved, the FOI said.

Data from the agency revealed that the most common complaints are insurers refusing to validate a policy purchase or pay compensation for positive COVID-19 infections based on rapid antigen test results.

A surge of COVID-19 infections in Taiwan has insurers scrambling to pay COVID-19 insurance claims, with payouts predicted to reach $1.39b.

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