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Life insurers must register all reported claims and settle eligible claims quickly for victims of the 2019 floods in states such as Karnataka, Kerala, Maharashtra, and Gujarat. Insurers must use a simplified process and consider the process followed during the 2015 Chennai floods when a death certificate is difficult to obtain due to non-recovery of a body. Insurers must publicize offices and special camps in the press and electronic media, and send the publicity details to the Authority. Insurers must submit a State-wise progress report on settled claims by email on a weekly basis every Monday before 12:00 PM for data up to the last working day of the previous week. Insurers must submit PMJJBY claims data separately while including the same in total claims.
What you must do
Key dates
Who is affected
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[Image omitted. See the official document.]
Circular No: IRDA/LIFE/GDL/MISC/136/08/2019
Ref: IRDA/LIFE/Floods in several states/2019-20
14th August, 2019
To Chairman/CEOs of Life Insurers.
Sub: Guidelines on settlement of Life Insurance Claims to the victims of recent Floods in many states
As a result of the heavy rains and floods, there are reports of loss of human lives and loss of belongings in many states such as Karnataka, Kerala, Maharashtra, Gujarat. In order to extend every possible facilitation in quick and timely settlement of life insurance claims, you are advised to take the following actions immediately in all the states affected by the recent floods.:
[Image omitted. See the official document.]
Chief General Manager (Life Insurance)
Format of Progress report on the claims settled for the week ending
| Sl.No | Type of Claim | Claims reported | Claims settled | ||
|---|---|---|---|---|---|
| Number | Amount (in lacs) | Number | Amount (in lacs) | ||
| 1 | Individual Insurance (including rider benefit if any) | Death claims | |||
| 2 | PMJJBY | Death Claims | |||
| 3 | TOTAL | ||||
सर्व नं.-115/1, फाइनेंशियल डिस्ट्रिक्ट, नानकरामगुडा, गच्चीबावली, हैदराबाद -500032, भारत दूरभाष:- 91-040-2020 4000
Sy No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad - 500032, India Ph. : 91-040-2020 4000
