The Insurance Regulatory and Development Authority of India vide circular dated 22-05-2020 Guidelines on settlement of Life Insurance Claims to the victims of recent Cyclone “Amphan’ for quick and timely settlement of life insurance claims.
Life Insurers are advised to take the following actions immediately in all the states affected by the cyclone:
- Nominate a senior level officer who would act as a nodal officer in the state.
- Initiate immediate action to ensure that all reported claims are registered and eligible claims are settled expeditiously.
- A suitably simplified process/procedure including relaxations in the usual requirements wherever feasible may be considered to expedite claims settlement.
- Details of offices/special camps set up for the purpose may be publicized in the press, electronic media etc to. enable immediate filing of claims.
- All the Life Insurers are advised to encourage and motivate their policyholders/claimants to adopt e-modes.
- The State-wise Progress report on the claims settled shall be submitted to ronanki.venkatesh@irda.gov.in and life@irda.gov.in on a weekly basis every Monday before 12.00 PM (first such report to be recived on 1st June 2020).
Click here to read the Circular.
