The regulator asked insurers to mobilize all resources to ensure prompt service response. Services of investigators, surveyors etc. are included for speedy settlement of claims of the affected people.
Insurance regulator IRDA directed insurance companies to settle claims at the earliest in states affected by Cyclone Biperjoy. In a notification addressed to CEOs of all general insurance companies and health insurance companies, the Insurance Regulatory and Development Authority of India (IRDAI) said that all claims should be surveyed immediately. Along with this, the claim payment should be done as soon as possible, and it should not take more time than the prescribed limit.
What the insurance regulator said: IRDA said, “Insurance companies shall encourage policyholders to make maximum use of electronic communication for correspondence while making claims and filing all relevant documents. Efforts will be made to ensure that as far as possible digital processes are adopted for assessment of claims.
The regulator has asked insurers to mobilize all resources to ensure prompt service response. This includes the services of investigators, surveyors and loss adjusters for speedy settlement of claims of the affected people after the cyclone.
Help from helplines: The notification said that insurance companies will assist claimants through their own 24-hour helpline, special claim counters at district level for speedy processing and settlement of claims with claim settlement teams. Let us tell you that Cyclone Biparjoy is expected to cause huge damage to infrastructure including properties (housing and business) in many states.
