News From Press IRDAI eases claim settlement norms for victims of Cyclone Michaung

IRDAI eases claim settlement norms for victims of Cyclone Michaung

Source: Business Standard Dec 19, 2023

The Insurance Regulatory and Development Authority of India (IRDAI) on December 18, 2023, increased the limit on losses for the appointment of Surveyors and Loss Assessors. The limits have been increased for Motor Insurance to Rs 1 lakh from the existing Rs 50,000. For other than motor insurance, it has been increased from the current Rs 1 lakh to Rs 5 lakh.

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