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Industry Specific - Insurance Central Insurance Regulatory Development Authority Insurance Act, 1938

Direction regarding Insurance claims relating to Cyclone Michaung and subsequent heavy rains/floods

09-Dec-2023 | IRDAI/NL/CIR/MISC/215/12/2023

The Insurance Regulatory and Development Authority of India (IRDAI) has issued a circular regarding insurance claims relating to Cyclone Michaung and subsequent heavy rains/floods. The circular, effective from December 9, 2023, outlines specific instructions for insurance companies to ensure an immediate and effective service response. Here are the key points:

Nodal Claims Officer: Insurance companies are advised to nominate a senior executive as the Nodal Claims Officer to oversee the claims response.
The appointment of the Nodal Officer should be communicated to the Chief Secretary of the concerned state immediately.

District Claims Service Head: In districts reporting large numbers of claims, a designated District Claims Service Head should oversee the claims.

Contact Particulars Publication: Contact details of the State/District heads should be published on the insurer's website. Publicity should be given in the press to make claimants aware of the measures taken.

Activation of Helplines: Insurers should activate and publish 24x7 helplines to respond to and assist claimants. An extensive awareness campaign should be launched, highlighting the measures taken.

Weekly Reporting to IRDAI: All insurers, including life and standalone health insurers, are advised to submit information related to Cyclone/flood claims to the IRDAI on a weekly basis. The information should be sent to nl-catastrophe@irdai.gov.in by general and health insurers and to life@irdai.gov.in by life insurers for a month.

For detailed information, please refer to the attached Circular.

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