Kathmandu. The Insurance Regulatory and Development Authority of India (IRDAI) has directed insurance companies to pay insurance claims of those killed in the Air India plane crash as soon as possible.
Citing procedural formalities, IRDAI has also directed insurance companies not to delay or reject the claims of those who have died in the list of passengers on board. The insurance regulator has given this directive in the case of those who have crashed at the crash site.
In order to expedite the insurance claim payment process, IRDAI has also empowered insurance companies to get information from the concerned authorities regarding issuance of certified list of persons killed in accidents, health insurance policies, personal accident policies and life insurance policies. IRDAI has also directed insurance companies not to seek FIRs and post-mortem reports.
Apart from this, IRDAI has also directed the Life Insurance Council and General Life Insurance Council to form a special cell. This cell will be set up near the hospital where the victims of BJ Medical College are being treated. Each insurance company has been asked to appoint a nodal officer at the highest level. This officer will resolve the claims coming to its insurance companies in collaboration with the Joint Cell. The insurance regulator has also asked insurance companies to submit weekly reports in this regard for the next one month from June 16.
Meanwhile, major life insurance companies including LIC Bharat, Bajaj Allianz Life Insurance and HDFC Life have started resolving insurance claims of the affected policyholders.
LIC has announced to simplify the claim payment process to solve the problem of policy claimants. Bajaj Allianz has also formed a special team for payment of claims. This team will prioritize the payment of claims of death or disability to those affected by this plane crash.
According to HDFC Life, a person nominated by the insured or his legal heirs can start the claim process by providing evidence of ongoing death by the local administration, police or hospitals.
