Page 58 - Insurance Times July 2023

Insurance claims relating to Cyclone correspondence while initiating the claim and fil-
ing all the relevant documents. Efforts shall be
Biparjoy
made to ensure that digital processes are resorted
16.06.2023 to the extent possible for assessment of claims.
i. Insurers are also expected to review and stream-
1. Cyclone Biparjoy (June 2023) is expected to cause wide-
line processing of claims by ensuring only such docu-
spread loss to property (homes and businesses) and in-
mentation necessary to substantiate claim
frastructure in various States.
quantums, to ensure expeditious final settlement.
2. General Insurers and Standalone Health Insurance
3. All General Insurers (including Standalone Health Insur-
Companies are advised to mobilise all resources to en-
ers) are advised to submit information related to Cy-
sure immediate service response including by
clone Biparjoy claims to the IRDAI in the format at-
outsourced functions such as investigators, surveyors
and loss adjustors as under: tached on a weekly basis at nl-catastrophe@irdai.gov.in
a. Please nominate a Senior Executive in each affected for a month.

State / UT to act as the Nodal Claims Officer oversee-
ing the claims response. The Nodal Officer appoint- Reporting of Cyber Security Incidents by
ment should be communicated to the Chief Secretary/
Regulated Entities
Officer concerned of the State immediately.
13.06.2023
b. Districts reporting large numbers of claims may be
overseen by a designated District Claims Service
1. Reference is drawn to para 3.5 ‘Notification to Regula-
Head.
tory Authorities’ under policy no. 2.10 ‘Incident and
c. The contact particulars of the State / District heads Problem Management’ in IRDAI Information and Cyber
should be published on the Insurer website and Security Guidelines, 2023 dated 24th Apr, 2023,
necessary publicity may be also given in the press. wherein it is stated that “Organization shall mandato-
rily report cyberincidents to Cert-In within 6 hours of
d. All Insurers should also activate, publish 24x7
noticing or being brought to notice about such incidents
helplines to respond / assist Claimants and launch
with a copy to IRDAI and other concerned regulators /
extensive awareness campaign duly highlighting
authorities.”
the measures taken.
2. In this connection, it is observed that the Regulatory
e. Special Claims Desks at District level with adequate
Entities are not adhering to the above mentioned
delegated Claims Settlement Teams are recom-
timelines and also not keeping the Authority in loop in
mended to be set up in affected areas to facilitate
claims speedy processing and settlements including their communications to CertIn.
release of on-account interim payments to assist 3. In view of the above, all Regulated Entities are directed
early reinstatement of property/ businesses. to scrupulously follow the provisions regarding report-
f. It needs to be ensured that all claims are surveyed ing of incident to IRDAI and Cert-In. Further, Regulated
immediately and claim payments/ on account pay- Entities are required to submit available details of Cyber
ments are disbursed at the earliest and in any case Security Incident to the Authority in an enclosed for-
not exceeding the stipulated timeline. mat within 24 hrs of intimation of the incident.
g. Adequate number of surveyor may be engaged im- 4. Further, the details in the reporting format needs to be
mediately as required and if needed, consider en- updated with flow of information from the forensic
gaging surveyor from neighboring areas as well. analysis as and when obtained and submitted to the
Authority as subsequent version(s) within 24 hrs of such
h. The insurer shall encourage the policyholder to use
information being made available.
electronic communication wherever possible for

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52 July 2023 The Insurance Times