Govt wants speedy settlement of claims; FM to meet insurers today

FM Sitharaman to meet insurers to discuss easing processes for settling claims

Finance Minister Nirmala Sitharaman will meet the heads of public and private insurance companies on Saturday to expedite the sanctioning of claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY) during the pandemic.

The meeting will also focus on simplifying the procedures and documentations needed to settle claims under the government’s flagship insurance schemes in a time-bound manner.

This comes a month after Sitharaman intervened and asked the Insurance Regulatory and Development Authority of India (Irdai) to resolve the problem of Covid-19 patients being denied cashless health insurance claims by hospitals and insurance