Kerala floods: IRDAI sets guidelines to make claims process easier for insurance claimants
Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines for settlement of insurance claims by Kerala flood victims.
The regulator has asked insurance companies to streamline the claims process to mitigate the hardships of the affected insured population of the State.
The insurers have been asked to initiate immediate steps for quick registration and disposal of claims.
Point of contact
Each insurer is required to appoint a senior officer who would act as a Nodal Officer for the State and co-ordinate the settlement of all eligible claims that are reported in Kerala.
In cases where obtaining death certificate is difficult
If there are any death claims and death certificate is difficult to obtain on account of non-recovery of body etc, the process followed in the case of Jammu & Kashmir floods (Notification of Ministry of Home Affairs, GoI,No. 1/12/2014-VS(CRS) dated 12.09.2014) which was also followed when the Tamil Nadu floods occurred, may be considered.
In a separate circular, the regulator has asked insurers that with regard to claims involving loss of life, where difficulty is experienced in obtaining a death certificate due to non-recovery of body etc., the process followed in the case of Chennai floods in 2015 may be considered. The regulator essentially says that a suitably simplified process/procedure including relaxations in the usual requirements wherever feasible may be considered to expedite claims settlement.
Other measures
The insurers have also been asked by the IRDAI to take following measures:
* Details of offices/special camps set up for the purpose may be publicized in press and through State Government to enable filing of claims.
* It needs to be ensured that all claims are surveyed immediately and claim payments/on account payments are disbursed early.
* Adequate number of surveyors may be engaged immediately in the affected Districts.
* You are also requested to launch extensive awareness campaign in the State, duly highlighting the measures taken by you.
In order to gauge the magnitude of the loss, all non-life insurers (Including Standalone Health Insurers) are advised to submit information relating to insurance claims in Kerala on a daily basis, in the format attached (through Google doc, which will be shared with you shortly).
Further, IRDAI is keeping a close watch on the claim settlements and asks insurers to share the progress report on the claims settled for the state of Kerala at the email ids - ronanki.venkatesh@irda.gov.in and life@irda.gov.in
The regulator has asked insurance companies to streamline the claims process to mitigate the hardships of the affected insured population of the State.
The insurers have been asked to initiate immediate steps for quick registration and disposal of claims.
Point of contact
Each insurer is required to appoint a senior officer who would act as a Nodal Officer for the State and co-ordinate the settlement of all eligible claims that are reported in Kerala.
In cases where obtaining death certificate is difficult
If there are any death claims and death certificate is difficult to obtain on account of non-recovery of body etc, the process followed in the case of Jammu & Kashmir floods (Notification of Ministry of Home Affairs, GoI,No. 1/12/2014-VS(CRS) dated 12.09.2014) which was also followed when the Tamil Nadu floods occurred, may be considered.
In a separate circular, the regulator has asked insurers that with regard to claims involving loss of life, where difficulty is experienced in obtaining a death certificate due to non-recovery of body etc., the process followed in the case of Chennai floods in 2015 may be considered. The regulator essentially says that a suitably simplified process/procedure including relaxations in the usual requirements wherever feasible may be considered to expedite claims settlement.
Other measures
The insurers have also been asked by the IRDAI to take following measures:
* Details of offices/special camps set up for the purpose may be publicized in press and through State Government to enable filing of claims.
* It needs to be ensured that all claims are surveyed immediately and claim payments/on account payments are disbursed early.
* Adequate number of surveyors may be engaged immediately in the affected Districts.
* You are also requested to launch extensive awareness campaign in the State, duly highlighting the measures taken by you.
In order to gauge the magnitude of the loss, all non-life insurers (Including Standalone Health Insurers) are advised to submit information relating to insurance claims in Kerala on a daily basis, in the format attached (through Google doc, which will be shared with you shortly).
Further, IRDAI is keeping a close watch on the claim settlements and asks insurers to share the progress report on the claims settled for the state of Kerala at the email ids - ronanki.venkatesh@irda.gov.in and life@irda.gov.in