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Home / Insurance / News /  Cyclone Tauktae, Yaas: Irdai asks life insurers for speedy settlement

Cyclone Tauktae, Yaas: Irdai asks life insurers for speedy settlement

Insurers should follow the government directions regarding maintaining social distancing and proper sanitization and must be duly sensitized to deal with policyholder with empathy and concern

  • The regulator advised insurers to designate a senior level officer as the nodal officer in the affected states to immediately establish contact with the chief secretary of the state and maintain close contact for subsequent follow up

NEW DELHI: Irdai on Friday asked life insurance companies to take immediate action to ensure expeditious settlement of claims in wake of cyclone ‘Tauktae, Yaas’ causing loss of lives and belongings primarily in the states of Maharashtra, Gujarat, Odisha, and West Bengal, in a circular issued on 28 May.

NEW DELHI: Irdai on Friday asked life insurance companies to take immediate action to ensure expeditious settlement of claims in wake of cyclone ‘Tauktae, Yaas’ causing loss of lives and belongings primarily in the states of Maharashtra, Gujarat, Odisha, and West Bengal, in a circular issued on 28 May.

Cyclone Tauktae and Yaas have left many people dead and thousands homeless in districts of Maharashtra, Gujarat, Odisha and West Bengal.

Cyclone Tauktae and Yaas have left many people dead and thousands homeless in districts of Maharashtra, Gujarat, Odisha and West Bengal.

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To extend every possible facilitation in quick and timely settlement of life insurance claims, the regulator advised insurers to take immediate actions in all the states affected by the cyclones.

The regulator further advised insurers to designate a senior level officer as the nodal officer in the affected states/union territories for coordinating/expediting settlement of all claims reported, who will immediately establish contact with the Chief Secretary or the officer concerned of the state/UT Governments and maintain close contact for subsequent follow up. Designate similar nodal officers for each of the affected districts to liaise with district administration, and intimate the contact details of all nodal officers designated to the Authority.

Details of designated officers, special camps, etc. should be publicized in the media and through state/UT Governments to facilitate the expeditious filing of claims. Start 24x7 helplines, as required, and details of such public activities must be sent to the regulator immediately. Special attention may also be given to Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) claims.

In respect of Policyholders/claimants coming to office, insurers should follow the government directions regarding maintaining social distancing and proper sanitization. The staff must be duly sensitized to deal with policyholders/claimants with empathy and concern, said Irdai.

The insurers have also been asked to submit a state-wise progress report on claims settled weekly wherein PMJJBY claims data need to be submitted separately while including the same in total claims.

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