India-based merchant payment network BharatPe has teamed up with ICICI Lombard to launch ‘Covid-19 Protection Insurance Cover’ for shopkeepers.

This policy will cover 100% of the sum insured, irrespective of the hospital charges, upon the diagnosis of Covid-19.

The health cover is priced at a premium starting at INR 199 and provides cover of INR 25,000.

In addition, the offering also includes value-added benefits such as Health Assistance and CHAT/Virtual assistance, teleconsultation, and ambulance assistance.

Merchants between the age group of 18 to 65 years are covered under Covid-19 Protection Insurance Cover.

BharatPe CEO & co-founder Ashneer Grover said: “Merchants’ well-being is our immediate focus, and as Coronavirus turns into a pandemic, we have designed a unique insurance cover with ICICI Lombard to provide financial support to merchants.

“Shopkeepers will get 100% of the opted Sum Insured as a lump sum in the event of the first diagnosis itself. The small businesses are the most affected financially and shopkeepers are at the most risk from risk of infection.”

This is a ‘first of its kind’ sachet product by ICICI Lombard that will cover shopkeepers.

Commenting on the new development, ICICI Lombard executive director Sanjeev Mantri said: “With the current threat on account of coronavirus pandemic, we have introduced a dedicated policy – Covid-19 Protection Insurance Cover.

“Further, our association with Bharat Pe enables us to reach out to their merchant base which could be vulnerable to the virus given their business activity. This tie-up is aligned with our brand ethos of ‘Nibhaaye Vaade’ (Keeping Promises) and our commitment to meet the insurance related needs of consumers and businesses.”

The Covid-19 Protection Insurance Cover is available on the BharatPe app.