The Insurance Regulatory and Development Authority of India on 28th May 2021 has issued guidelines on settlement of life insurance claims to the vicitims of cyclone. In order to extend every possible facilitation in quick and timely settlement of the claims, IRDAI has directed the insurers to adopt a simplified process/procedure including relaxations in the usual requirements wherever feasible may be considered to expedite claims settlement.
The Insurers shall initiate immediate action to ensure that all reported claims are registered and eligible claims are settled promptly. Special attention may also be given to PMJJBY claims.
Further to limit the fallout of the Corona Virus (COVID-19) pandemic and limiting direct/indirect social contact, all the Life Insurers are advised to encourage and motivate their policyholders/claimants to adopt e-modes.
