Guidelines on settlement of Life Insurance Claims to the victims of Cyclone

Last updated: 29 May 2021

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Following the devastating Cyclones Tauktae and Yaas, the IRDAI has issued new guidelines to ensure the swift and timely settlement of life insurance claims for affected victims. Insurers are instructed to appoint senior officers as nodal points of contact in affected states and districts. They must also publicise claim filing details, establish 24/7 helplines, and consider simplified procedures, including relaxations for obtaining death certificates where bodies haven't been recovered.

Insurance Regulatory and Development Authority of India Circular No: IRDA/LIFE/GDL/MISC/151/05/2021 Ref: IRDA/LIFE/Cyclone Tauktae,Yaas/2021 28thMay 2021 To Chairman/CEOs of Life Insurers. Sub: Guidelines on settlement of Life Insurance Claims to the victims ofCyclones Tauktae,Yaas

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FAQ :

The circular provides guidelines for the quick and timely settlement of life insurance claims for victims of Cyclones Tauktae and Yaas.

Insurers must designate senior-level nodal officers in affected states/UTs and districts, publicise claim filing details, start 24/7 helplines, and ensure prompt registration and settlement of eligible claims, with special attention to PMJJBY.

Yes, if difficulty is experienced in obtaining a death certificate due to non-recovery of a body, insurers may consider the process followed during the Chennai floods in 2015.

Insurers are advised to encourage policyholders and claimants to use e-modes for correspondence and document submission to minimise social contact. For those visiting offices, social distancing and sanitisation measures must be followed, and staff should be empathetic.

Insurers must submit a state-wise progress report on claims settled to the specified email addresses on a weekly basis, every Monday before 12:00 PM.

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Notification No : IRDA/LIFE/Cyclone Tauktae,Yaas/2021
Published in Miscellaneous
Source : https://www.irdai.gov.in/admincms/cms/whatsNew_Layout.aspx?page=PageNo4499&flag=1

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