Now Reading: IRDAI Orders Faster Flood Claim Settlements in Four Assam Districts
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IRDAI Orders Faster Flood Claim Settlements in Four Assam Districts
The Insurance Regulatory and Development Authority of India has directed insurers to expedite claims from flood-hit Sivasagar, Charaideo, Jorhat and Golaghat districts in Assam. Heavy rain caused loss of life and damage…
The Story in Brief
The Insurance Regulatory and Development Authority of India has directed insurers to expedite claims from flood-hit Sivasagar, Charaideo, Jorhat and Golaghat districts in Assam. Heavy rain caused loss of life and damage to homes, businesses and infrastructure, The Hindu reports.
IRDAI asked life, health and other insurers to deploy surveyors, loss adjustors and investigators, and name senior executives to coordinate with Assam’s Chief Secretary. Districts with many claims must have a District Claims Service Head. Insurers have also been told to run 24×7 helplines and district claims desks, register claims quickly, and make early or on-account payments where possible. Policyholders are encouraged to use electronic communication.
The Indian Opinion
Flood victims should not have to chase insurers after losing homes or livelihoods. But the claim that every case can be settled immediately would ignore the need to verify damage and coverage. IRDAI’s instructions are useful only if companies publish district-level progress, keep desks reachable and explain delays. The practical measure will be how many claims are registered and paid in each of the four districts, and how quickly.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
