Irdai says fasten life insurance claims settlement of Maharashtra flood victims

NEW DELHI: The Insurance Regulatory and Development Authority of India (Irdai) has called for quick and timely settlement of life insurance claims of victims of recent floods in Maharashtra.

In a circular, Irdai has asked insurers to designate a senior level officer as nodal officer in the state for coordinating/expediting settlement of all claims reported, who will establish contact with the state’s chief secretary or the officer concerned for subsequent follow ups. Similar nodal officers will be designated for each of the affected districts to liaise with district administration, and intimate the contact details of all nodal officers designated to the Authority.

Insurers need to publicise the details of designated officers, special camps etc in the media and through the state government to facilitate expeditious filing of claims. They have been also asked to start 24×7 helplines, as required, with details sent to the Authority, immediately.

Special attention should be paid to to PMJJBY claims.

Further, a suitably simplified process/procedure including relaxations in the usual requirements wherever feasible may be considered to expedite claims settlement, Irdai said. With regard to claims involving loss of life, where difficulty is experienced in obtaining a death certificate due to non-recovery of body etc., the process followed in the case of Chennai floods in 2015 may be considered.

With a view to limit the fallout of the pandemic and limiting direct/indirect social contact, all life insurers have been advised to encourage and motivate policyholders/claimants to adopt e-modes, wherever possible, said the circular.

For policyholders/claimants coming to office, insurers have to follow government directions regarding maintaining social distancing and proper sanitisation. Staff must be duly sensitised to deal with policyholders/claimants with empathy and concern.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!

Share:

Facebook
Twitter
Pinterest
LinkedIn

Leave a Comment

Related Posts

8 Financial Tips For Young Adults

By Aysia Morton May 20, 2022 / 11:13 AM Financial realities might be a tidal wave when you’re a young adult. You’re given new duties, such as how much money you need to spend, save, or invest. It might be frustrating and difficult to understand. Even searching the internet for financial help can be daunting.

Read More »

After George Floyd’s murder, Wall Street promised billions of dollars to help Black Americans. 2 years later, here’s where that money went and how it’s being used.

As Dominik Mjartan approached JPMorgan’s towering global headquarters on New York City’s Park Avenue on a Friday afternoon in September, he couldn’t help but feel skeptical. Mjartan, the CEO of Optus Bank, a South Carolina lender with $350 million assets under management, was there to meet Jamie Dimon, the CEO of JPMorgan. The meeting was

Read More »

International 7-Day News Agenda

Text size Please note that all times are in GMT. Major events are listed under ‘Highlights’. For full details of our coverage of top stories, please see our regularly updated News Advisory. (+) : Event added in the last 24 hours. (*) : Event updated in the last 24 hours. UNITED STATES – Covid test

Read More »

8 Financial Tips For Young Adults

By Aysia Morton May 20, 2022 / 11:13 AM Financial realities might be a tidal wave when you’re a young adult. You’re given new duties, such as how much money you need to spend, save, or invest. It might be frustrating and difficult to understand. Even searching the internet for financial help can be daunting.

Read More »

After George Floyd’s murder, Wall Street promised billions of dollars to help Black Americans. 2 years later, here’s where that money went and how it’s being used.

As Dominik Mjartan approached JPMorgan’s towering global headquarters on New York City’s Park Avenue on a Friday afternoon in September, he couldn’t help but feel skeptical. Mjartan, the CEO of Optus Bank, a South Carolina lender with $350 million assets under management, was there to meet Jamie Dimon, the CEO of JPMorgan. The meeting was

Read More »

International 7-Day News Agenda

Text size Please note that all times are in GMT. Major events are listed under ‘Highlights’. For full details of our coverage of top stories, please see our regularly updated News Advisory. (+) : Event added in the last 24 hours. (*) : Event updated in the last 24 hours. UNITED STATES – Covid test

Read More »
Scroll to Top