In response to the recent landslide incident and heavy rains in Kerala, the Central government has directed Public Sector Insurance Companies (PSICs), including Life insurance Corporation of India (LIC), National Insurance, New India Assurance, Oriental Insurance, and United India India Insurance, to provide comprehensive support to the affected victims. The mandate aims to ensure that insurance claims are processed and paid promptly to those impacted by the natural calamity.
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In a post on X, the Ministry of Finance said, ” In view of the unfortunate landslide incident and heavy rains in Kerala, the government has mandated the Public Sector Insurance companies (PSICs), including Life Insurance Corporation of India (LIC)@LICIndiaForever, National Insurance @NICLofficial, New India Assurance @newindiaassuran, Oriental Insurance @oiclinsurance, and United India Insurance @UnitedIndiaInsu, to extend all possible support to the victims of the calamity so that the insurance claims can be expeditiously processed and paid.”
In view of the unfortunate landslide incident and heavy rains in Kerala, the government has mandated the Public Sector Insurance companies (PSICs), including Life Insurance Corporation of India (LIC) @LICIndiaForever, National Insurance @NICLofficial, New India Assurance…
— Ministry of Finance (@FinMinIndia) August 3, 2024
The insurance companies have already commenced outreach efforts, utilizing various channels such as local newspapers, social media, company websites, and SMS, to disseminate contact information for assistance in the heavily affected districts of Wayanad, Palakkad, Kozhikode, Malappuram, and Thrissur. These areas have reported a significant number of insurance claims in the wake of the disaster.
“The insurance companies have initiated efforts for reaching out to their policyholders through various channels (local newspapers, social media, company websites, sms, etc) to provide the contact details for assistance in the districts of Wayanad, Palakkad, Kozhikode, Malappuram, and Thrissur, where a significant number of claims are being reported,” the post added.
LIC has been specifically tasked with the rapid disbursement of claim amounts for policyholders under the PM Jeevan Jyoti Bima Yojana. To facilitate this, the documentation requirements for claim processing have been considerably relaxed, ensuring that the victims receive their due compensation without unnecessary delays.
“LIC has been asked to speedily disburse the claim amount in respect of the policyholders under the PM Jeevan Jyoti Bima Yojana. The documentation required for processing of claims has been relaxed comprehensively to ensure speedy dispersal of the claim amount. The General Insurance Council will coordinate with the insurance companies to ensure that claims are processed and paid expeditiously and will host a portal for all insurers to report claim status daily. The Central Government and @FinMinIndia remain committed to supporting the victims of this calamity and ensuring they receive the necessary assistance without delay and trouble. @PIB_India @PIBTvpm @DFS_India @DDNewslive @airnewsalerts @MIB_India,” the post stated.
The General Insurance Council will oversee the coordination among insurance companies to guarantee the swift processing and payment of claims. Additionally, a dedicated portal will be hosted to allow all insurers to report claim statuses daily, enhancing transparency and efficiency in handling the claims.
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The Central Government and the Ministry of Finance reaffirm their commitment to supporting the victims of this calamity, emphasizing their dedication to providing necessary assistance promptly and efficiently. The collaborative efforts of the PSICs and government agencies aim to alleviate the suffering of those affected and aid in their swift recovery.
