Indian authorities urge insurers to mobilise resources due to floods

Recent floods are expected to drive property loss and infrastructure costs.

The Insurance Regulatory and Development Authority of India (IRDAI) has issued instructions to all General Insurers and Standalone Health Insurance Companies to mobilise all available resources for immediate service response.

Specifically, for claims arising from the recent floods. This includes engaging investigators, surveyors, and loss adjusters to expedite claim settlements.

Recently, North India was affected by floods which are expected to drive property loss and infrastructure costs in various areas.

Additionally, insurers are required to nominate a Senior Executive in each affected State or UT and communicate this to the relevant Chief Secretary or Officer of the State promptly. 

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For districts reporting a large number of claims, a designated District Claims Service Head is to oversee the process. 

The contact details of these officers should be widely publicized on the insurers' websites and in the media.

To facilitate faster claim processing, insurers are urged to provide 24/7 helplines, establish special claims desks at the district level, and form dedicated claims settlement teams. 

Moreover, insurers are encouraged to make interim payments whenever possible and promote the use of electronic communication for correspondence with policyholders.