The insurance regulator has asked insurance companies to appoint a senior official to help flood victims settle their claims faster.
IRDA has asked insurance companies to expedite the claim settlement process of Jammu and Kashmir flood victims. The insurance regulator has asked life insurance companies to appoint a senior official in order to facilitate the victims with the paper work and documentations for the claim settlement.
Also, IRDA said that the nominated official should be instructed to get in touch with Chief Secretary or concerned official of state government to expedite the settlement process. These officials have been directed to submit weekly report of the progress on claim settlement.
In addition, the insurance regulator has asked insurers to dedicate a toll free help line number and email id to assist claimants with information on making claims. Also, the regulator has asked them to publish such information on newspaper or electronic media along with their office address.
The insurers have been asked to simplify the claims settlement process for the families/beneficiaries of the death victims where they face difficulty in obtaining death certificate due to non-recovery of the body. The regulator has asked them to follow the procedure adopted during Uttarakhand flood. Last year, in Uttarakhand tragedy, some insurance companies had accepted the list issued by hospitals/ police/ armed forces in cases were death certificates from the municipal authorities were not available.
Besides, the regulator has raised the limit of licensed surveyor and loss assessor from Rs. 20,000 to Rs.50,000 for two months in J&K. The surveyor and loss assessor surveys the claims arising out of any calamity and damage.