Private sector general insurer ICICI Lombard on Thursday launched 'International Travel Insurance Plan' which provides overseas medical insurance.
"We have launched this product keeping in view that number of international travellers from India is increasing.
Apart from medical insurance, this policy covers a host of other risks like political ones, catastrophic evacuation, emergency financial assistance, and home insurance cover," its vice-president for underwriting and claims Amit Bhandari said.
He also said the company has tied up with US-based healthcare provider United Health Care (UHC) to take care of bill settlement directly, along with cashless hospitalisation across a wide network of hospitals.
Total premium collected in travel insurance segment in the country stood at only Rs 400 crore in the last fiscal.
ICICI Lombard is the largest private sector insurer which had a gross written premium (GWP) of Rs 5,358 crore last fiscal.