"... The recent flood has caused immense loss to life and property in Tamil Nadu, Puducherry and neighbouring districts of Andhra Pradesh. There is an urgent need for us to take immediate steps to mitigate the hardships... By ensuring immediate registration and settlement of eligible claims," Irdai said in a communication to CEOs and CMDs of all general insurance players and stand-alone health insurers.
"It needs to be ensured that all claims are surveyed within 72 hours and claim payments/on-account payments are disbursed within 15 days. Adequate number of surveyors may be engaged immediately in the affected districts," the Insurance Regulatory and Development Authority of India (Irdai) said.
Irdai has also sought contact details of the officer(s).
It suggested that the nodal officers should get in touch with the chief secretary/officer concerned of the states immediately for any follow-up action.
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The regulator advised that a nodal officer may also be appointed in each affected district and in the case of death claims where death certificates are difficult to come by on account of non-recovery of body, the process followed during recent Jammu & Kashmir floods may be considered.
The insurance companies, the watchdog said, should launch an extensive awareness campaign in these states highlighting the measures taken by them.
"In order to gauge the magnitude of the loss, all non-life insurers (including stand-alone health insurers) are advised to submit information relating to insurance claims in Tamil Nadu, Andhra Pradesh and Puducherry on a daily basis in the link which will be e-mailed to the insurers separately," it added.
"We request you to take urgent steps for expeditious settlement of claims in the flood-hit areas and submit details of the same on a fortnightly basis as advised.