Finmin asks insurers to speedily disburse claim amount to victims of Wayanad landslide

The finance ministry on Saturday asked public sector insurance companies including Life Insurance Corporation of India (LIC) to speedily disburse the claim amount to landslide victims and their families in Wayanad and other districts of Kerala.

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 finance ministry said in a post on X.

"In view of the unfortunate landslide incident and heavy rains in Kerala, the government has mandated the Public Sector Insurance companies (PSICs), including LIC, National Insurance Corporation, New India Assurance, Oriental Insurance, and United India Insurance to extend all possible support to the victims of the calamity so that the insurance claims can be expeditiously processed and paid," it 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…

— Ministry of Finance (@FinMinIndia) August 3, 2024

LIC has been asked to speedily disburse the claim amount in respect of the policyholders under the PM Jeevan Jyoti Bima Yojana, it said.

The documentation required for processing of claims has been relaxed comprehensively to ensure speedy dispersal of the claim amount, it said.

It further said, 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 finance ministry remain committed to supporting the victims of this calamity and ensuring they receive the necessary assistance without delay and trouble, it added.