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Floods in India: IRDAI issues guidelines to ease claim filing process in Karnataka floods

Sunil Dhawan
Kerala Floods,Floods in Kerala, Maharashtra Floods, Karnataka Floods, Health Insurance Companies, policyholders, claim filing process,

Floods across several parts of the country including the state of Maharashtra, Karnataka, Kerala amongst others have played havoc in the lives of a large proportion of the population. Floods in India have ruined not only home and properties but also unsettled the livelihood of many individuals. The extent of damage to property may get revealed in the time to come. Meanwhile, the insurance regulator IRDAI (The Insurance Regulatory and Development Authority of India) has issued guidelines to all General Insurance Companies and Stand Alone Health Insurance Companies to adhere to while attending to the claims of the victims involved in the floods.

IRDA felt that there is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the insured population affected by the floods. The guidelines ask for ensuring immediate registration and settlement of eligible claims of flood-hit insureds by the insurance companies.

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For quick registration and disposal of claims caused due to floods, insurers have been asked to nominate a senior officer at the company level who would act as a Nodal Officer for the affected states. The Nodal Officer will hold the responsibility of coordinating the receipt, processing and settlement of all eligible claims. For faster claims, one, therefore, should reach out to the Nodal Officer of the insurance companies.

In case of any death claims where the surviving family members are finding it difficult to procure the death certificate, the regulator has asked the insurers to stick to the process as followed during the Jammu & Kashmir floods, Tamil Nadu floods and Kerala floods that had occurred in the past. Floods in Kerala have occurred consecutively in the last two years.

Even if proper documents are not in place, as a prudent step, policyholders and family members should immediately inform the insurance companies and register the claim. To register claim, one can approach the nearest branch office of the insurance company or get the claim registered on their customer care call center. One may have to follow-up with the insurers to get the surveying done at the earliest. As far the claim payments are concerned, the insurance companies have been directed to ensure that surveying of the claims happens immediately so that claims are paid to the rightful claimants without any delay and under no circumstances beyond the stipulated time.