IRDAI tells insurers to mobilise resources for speedy settlement of Assam flood claims

The Insurance Regulatory and Development Authority of India (IRDAI) directed all Insurers including Life and Standalone Health Insurance Companies to mobilise all resources to ensure immediate service response to those affected by the Assam floods.

All measures include engaging the services of surveyors, loss adjusters and Investigators for quick settlement of claims arising out of the losses due to the natural disaster and subsequent heavy rains causing floods, the insurance regulator said in a circular.

The natural disaster affecting four districts of Assam, Sivasagar, Charaideo, Jorhat and Golaghat, have caused widespread loss of lives, property (homes and businesses) and infrastructure,'' the Authority said on Tuesday.

The insurers have been advised to communicate the nomination of a Senior Executive to the Chief Secretary immediately. Districts reporting large numbers of claims are to be overseen by a designated District Claims Service Head. The insurers will give wide publicity on the contact details of these officers on their websites and also in the media,'' it said.

Insurers have been advised to respond/assist the claimants through their 24x7 helplines, special claims desks at district level with delegated Claims Settlement Authorities for speedy processing and settlement of claims. 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.

www.thehindubusinessline.com, dt. 05-08-2026