Page 58 - The Insurance Times September 2024

12.2. As part of complying with KYC norms, the Insurers should be published on the Insurer website and
shall adopt the procedure specified in Rule 9 (1C) necessary publicity may be also given in the press.
of PML Rules.” d. All Insurers should also activate, publish 24x7
3.2. The para 12.3 shall be omitted. helplines to respond / assist Claimants and launch
extensive awareness campaign duly highlighting
3.3 After para 12.9, the following paras shall be in-
serted. the measures taken.
“12.10 Where additional or updated KYC information is ob- e. Special Claims Desks at District level with adequate
tained from a client under Rule 9(1C) of PML Rules, delegated Claims Settlement Authorities are rec-
ommended to be set up for affected areas to fa-
Insurers shall furnish the updated information to
the CKYCR as per Rule 9(1D). cilitate speedy processing of claims and settlements
including release of on-account interim payments
12.11 If an update in the KYC record of an existing client
to assist early reinstatement of property / busi-
is informed by the CKYCR, the Insurers shall retrieve
nesses.
the updated KYC records from the CKYCR and up-
date the KYC record maintained by it.” f. It needs to be ensured that all claims are surveyed
immediately and claim payments / on account pay-
4. Further, insurers shall take note of the amendments no- ments are disbursed at the earliest.
tified to PML Rules vide above mentioned gazette no-
tification dated 19th July, 2024 and take necessary steps g. Adequate number of Surveyors and Loss Adjustors
to implement the same in terms of para 1.2 of the be immediately engaged and if needed, resources
Master Guidelines. from neighbouring States may be also deployed.
5. The copy of the gazette notification is attached for h. Insurers shall encourage Policyholders to use elec-
ready reference. tronic communication wherever possible for corre-
spondence while initiating the claim and filing all
Insurance claims relating to landslides in the relevant documents. Efforts shall be made to
Wayanad, Kerala ensure that digital processes are resorted to the
extent possible for assessment of claims.
Date: 2nd August, 2024
i. Insurers are also expected to review and stream-
1. The landslides in Wayanad, Kerala (July, 2024) are re- line processing of claims by ensuring only such docu-
ported to have caused widespread loss to human lives, mentation necessary to substantiate claim quan-
property (homes and businesses) and infrastructure. tum, to ensure expeditious final settlement.
2. All Insurance Companies are advised to mobilise all re- j. With regard to claims involving loss of life, where
sources to ensure immediate service response includ- difficulty is experienced in obtaining a death cer-
ing outsourced functions such as Surveyors, Loss Adjus- tificate due to non-recovery of body etc., if the
tors and Investigators. Specifically: details of the Insured matches with the details of
the deceased published by State / Central Govern-
a. Nominate a Senior Executive to act as the Nodal ment or appropriate/Govt. authorities., the claim
Claims Officer overseeing the claims response. The may be considered without insisting for death cer-
Nodal Officer appointment should be communi-
tificate.
cated to the Chief Secretary concerned of the State
immediately. 3. All Insurers (including Life and Standalone Health Insur-
ers) are advised to submitinformation related to the
b. Districts reporting large numbers of claims may be claims to the IRDAI in the format attached on a
overseen by a designated District Claims Service weeklybasis at nl-catastrophe@irdai.gov.in by General
Head.
and Health Insurers and atlife@irdai.gov.in by Life In-
c. The contact particulars of the State / District heads surers, for a month.

52 September 2024 The Insurance Times