Kerala Floods – Life Insurance Claims settlement, Aug 2018

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• ,m«fr,_:r iITTlrl fo F.:i ll I 4 cfi 3ITT fo r..fi I H w~ Cll11XJ INSURANCE REGULATORY AND lrJai DEVELOPMENT AUTHORITY OF INDIA Ref: JRDA/LIFE/Kerala Floods/2018-19 To Chairman/CEOs of Life Insurers. 17,h August,2018 Sub: Guidelines on settlement of Insurance Claims of victims of recent Floods in the state of Kerala As a result of the heavy rains and floods, there are reports of loss of human lives and loss of belongings in the state of Kera/a. 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: 1. Initiate immediate action to ensure that all reported claims are registered and eligible claims are settled expeditiously. 2. With regard to claims involving loss of life, where difficulty is experienced in obtaining a death certificate due to non-recovery of body etc., the process followed in the case of Tamilnadu floods in 2015 may be considered. 3. A suitably simplified process/procedure including relaxations in the usual requirements wherever feasible may be considered to expedite claims settlement. 4. Details of offices/special camps set up for the purpose may be publicized in the press, electronic media etc to enable immediate filing of claims. Details of such publicity activities may be sent to the Authority, immediately. 5. Progress report on the claims settled for the state of Kera/a shall be submitted to ronanki.venkatesh@irda.qov.in and life@irda.gov.in on weekly basis every Monday for data up to last working day of the previous week. PMJJBY claims data need to be submitted separately while including the same in total claims. This is issued with the approval of the Competent Authority. ~ Chief e (Life Insurance} SI.No Type of Claim 1 Individual Death claims Insurance (including rider benefit if any) 2 PMJJBY Death Claims 3 TOTAL 'fief ;f,-115/1, ~ ~%<R., o1io1cfi{lli•Jsl, Jju.1~ili3JI ,~ -500032, ffl«'T ~- 91-040-2020 4000 Claims reported Claims settled Number Amount Number Amount (in (in lacs) lacs) Sy No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad - 500032, India Ph. : 91-040-2020 4000