It is anticipated that infrastructure and property (homes and businesses) would suffer significant losses as a result of floods in several states of North India in July 2023. Due to this, the Insurance Regulatory and Development Authority of India (Irdai) urged insurance companies to handle flood-related claims in North India on fast track basis and has advised to mobilise all resources to ensure immediate service response for the flood related areas.

Irdai has also asked all insurers to activate, publicise 24-hour helplines to assist claimants, and start a comprehensive awareness campaign detailing the steps taken.

According to an Irdai circular issued on July 16, 2023, “Special Claims Desks at District level with adequate delegated Claims Settlement Teams are recommended to be set up in affected areas to facilitate claims speedy processing and settlements including release of on-account interim payments to assist early reinstatement of property/ businesses.”
Here is a look what else IRDAI stated in its latest circular.

Claims
It is important to make sure that all claims are examined right away and that claim payments or on-account payments are distributed as soon as possible, never going past the designated deadline, Irdai stated.

Encourage to use electronic communication
When making a claim and commencing correspondence, the insurer should encourage the policyholder to use electronic communication wherever possible. To the greatest extent practicable, efforts must be undertaken to evaluate claims using digital procedures.

In order to achieve a swift final payment, insurers are advised to analyse and expedite the processing of claims by ensuring that only the documentation required to substantiate claim quantum is provided.

Will your car insurance cover natural calamities
According to Reliance General Insurance, “A comprehensive car insurance policy provides coverage against damages or losses caused due to almost all natural disasters, which means you don’t have to buy individual plans for each one of them.”

What documents are required to file a claim in car insurance policy?
In case of accidental damages claim, you need to provide the following documents:
• Claim Form duly signed
• Valid RC copy of the vehicle
• Valid driving license copy
• Policy copy
• FIR, if required (For Theft, Third Party Injury/ Damage; Highway accidents – Major only)
• Original repair bill, proof of release and cash receipt
• Any other document as required to investigate the Claim or Company’s obligation to make payment for itr.