Delhi riots: IRDAI directs insurers to settle claims speedily, fairly, submit weekly reports

The Insurance Regulatory and Development Authority of India (IRDAI) has directed all insurers to settle claims related to the riots in north east Delhi speedily and fairly. It has also issued instructions to them on how this is to be done and asked for a weekly report on the insurance claims relating to these riots.

The tragic riots in North East Delhi during last week of February 2020 have had a serious impact on people, property and business in North East Delhi, says a release from IRDAI.

The release states: “The Authority is aware that General Insurers, Life Insurers and Stand-Alone-Health Insurers may have written policies that extend to lives and property pertaining to the affected areas. In this situation, all insurers are advised to act immediately for fair and speedy settlement of claims.”


Insurers have been instructed by IRDAI as follows:
a. To nominate a senior officer who would act as a nodal officer for Delhi State, who would be coordinating/facilitating the settlement of all the claims that are reported in the affected areas.

b. To publish in press and through State Government, the contact details of offices/special arrangements set up for this purpose.

c. To initiate immediate steps for quick registration of claims.

d. To engage adequate number of surveyors immediately in the affected areas to ensure that all claims are promptly assessed expeditiously, and payments of claims/on account payments are disbursed within 15 days.

e. To create extensive awareness campaign in the affected areas duly highlighting the measures taken.

In order to gauge the magnitude of loss, all General /Life / Stand-Alone-Health Insurers have been asked to submit information relating to insurance claims related to North-East Delhi Riots on weekly basis in the format attached