Insurance claims may be over ₹1,000 cr
NEW DELHI: Insurance companies expect claims in flood-ravaged Kerala to cross ₹1,000 crore as the government declares the deluge as ‘calamity of severe nature’.
A senior official of an insurance firm said, with situation moving to normal a clear picture will emerge in the next few days when claims are received and assessed.
Given the magnitude, preliminary assessment points that claims for car, home and industry will be upwards ₹1,000 crore, the official said. On Tuesday, the central government exempted customs duty and inter-state taxes on relief material for Kerala.
Public sector general insurance companies — National Insurance, New India Assurance, Oriental Insurance and United India Insurance — under the aegis of General Insurer Public Sector Association Of India (GIPSA) has geared up to settle claims in flood-hit Kerala.
These companies have system in place and they will also make insurance claim form simple, Girijakumar said.
It was decided that on August 22, technical department heads and general managers will be meeting to align the existing guidelines and make suitable adjustments to fit into the requirements and context of Kerala floods, he added.
Monitoring will be done on continuous basis at the regional level, corporate office level, General Insurers Public Sector Association of India (GIPSA) and department of financial services.
LIC said it is working in coordination with the partner banks for the expeditious settlement of claims for the people covered under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
“Instructions have been issued to set up Special Help Desk at Divisional and Branch Offices to respond to policy enquiries and assist in expeditious settlement of claim. Special Task Force has been created to ensure that concessions and benefits are reaching the needy policy holders,” LIC said in a statement.
According to IFFCO Tokio General Insurance Executive Director (Claims) R Kannan, the company has mobilised over 100 in-house and external surveyors for quick claim assessment and payments.
“We have taken steps to release on-account payments and will also explore the use of drones to survey the inaccessible areas. We will take all steps to ensure that our customers get back to their normal life as quickly as possible,” Kannan said.