The Insurance Regulatory and Development Authority of India (IRDAI) on August 24, 2023, advised Insurance Companies to settle Himachal Pradesh flood Claims on Fast Track.
Homes, companies, and infrastructure have all suffered significant losses as a result of the continuing flooding in Himachal Pradesh. The Sector Regulator IRDAI gave orders to all General Insurers and Standalone Health Insurance Companies to mobilise all resources to ensure an immediate service response, including engaging the services of surveyors, loss adjustors, and investigators for prompt settlement of claims resulting from the devastation caused by the floods.
The insurers have been asked to notify the Chief Secretary immediately of the nomination of a Senior Executive. Districts with a high volume of claims must be overseen by a District Claims Service Head. The insurers must publicise the contact information for these officers on their websites and in the media.
The Insurers are advised to respond/assist the claimants through their 24x7 helplines, and special claims desks at the district level with delegated Claims Settlement Authorities for speedy processing and settlement of claims.
The Insurers have been advised to settle claim payments/on-account payments at the earliest and also encourage policyholders to use electronic communication wherever possible for correspondence.
