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Cyclone Nisarga: Irdai asks general insurance firms to take immediate steps for claim disposals

By PTI
|

New Delhi, June 8: Insurance regulator Irdai on Monday asked general insurance companies to take immediate steps for quick registration and disposals of claims arising due to cyclone Nisarga causing damage to properties in parts of Maharashtra, Gujarat and other neighbouring states.

Cyclone Nisarga: Irdai asks general insurance firms to take immediate steps for claim disposals

In a circular addressed to general insurers, the regulator said there is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims.

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    "Please nominate a senior officer at the company level who would act as a nodal officer for the affected states. The nodal officer would be coordinating the receipt, processing, and settlement of all eligible claims," said the Insurance Regulatory and Development Authority of India (Irdai). If there are any death claims and death certificate is difficult to obtain on account of non-recovery of body, it said the process followed in the case of Jammu and Kashmir floods, which was also followed when recent floods and cyclone occurred, may be considered.

    "It needs to be ensured that all claims are surveyed immediately and claim payments/on account payments are disbursed at the earliest and in any case not exceeding the stipulated timeline," the circular said.

    In view of the COVID-19 pandemic, the insurers have to encourage the policyholders to use electronic communication wherever possible for correspondence while intimating the claim and filing all the relevant documents. Irdai had issued similar instructions after cyclone Amphan-hit eastern coast of the country.

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