Insurance Regulatory and Development Authority of India (IRDAI) has asked insurance companies to expeditiously settle the claims of Delhi riot victims and make the payments within 15 days.
In a communication to all general, life and standalone health insurance companies, the IRDAI said the violence in north-east Delhi during last week of February have had a serious impact on people, property and business in the region.
“The authority is aware that general insurers, life insurers and standalone health insurers may have written policies that extend to lives and property pertaining to the affected areas. In this situation, all insurers are advised to act immediately for fair and speedy settlement of claims,” the insurance regulator directed.
The IRDAI has asked them to engage adequate number of surveyors immediately in the affected areas to ensure that all claims are promptly assessed and payments of claims are disbursed within 15 days.
The IRDAI, in a set of instructions to the insurers, has asked them to nominate a senior officer who would act as a nodal officer for Delhi, who would be coordinating/facilitating the settlement of all the claims that are reported in the affected areas.
It has also asked them to publish in press, the contact details of offices/special arrangements set up for this purpose as well as to initiate immediate steps for quick registration of claims.
Insurers should create extensive awareness campaign in the affected areas duly highlighting the measures taken, the regulator said.
In order to gauge the magnitude of loss, insurers were advised to submit information about insurance claims related to the violence in north-east on weekly basis in a given format. The IRDAI also asked them to take urgent steps to co-ordinate with the Delhi government.