A meeting was held today in the Department of Financial Services (DFS), Ministry of Finance, Government of India with IRDA, LIC, all Public Sector General Insurance Companies and GIPSA to review the position in flood affected State of Tamil Naidu . The following points were discussed and conveyed.

1. Nodal Officers in respect of settlement of insurance claims were appointed last week by LIC and all four Public Sector Insurance Companies and details shared with the Government of Tamil Nadu.

2. LIC and other companies are organising awareness camps for facilitation and coordination in settlement of claims. Joint publicity for these camps will be made by the United India Insurance Company Ltd.(UICL) based at Chennai and also for collecting and sharing the data for all the companies for better coordination

3. The insurance companies have deputed adequate number of surveyors on the ground so as to process the claims speedily and effectively .They are also deputing surveyors from the adjoining states if necessary. The survey formats have been simplified to meet the emergent needs.

4. Insurance companies have delegated additional financial power to their field functionaries so that claims can be approved in minimum time at the local level.

5. IRDA has also issued instructions for the appointment of Nodal Officers for Private Sector Insurance Companies and expeditious disposal of claims by them.

Nodal officer appointments and streamlined insurer procedures required for rapid settlement of flood-related insurance claims. Mandated appointment of nodal officers, organisation of joint awareness camps coordinated by United India Insurance, deputation of surveyors (including from neighbouring states), simplification of survey formats, and delegation of additional financial authority to field functionaries to enable speedy local claim approvals; IRDA issued parallel instructions for private insurers to appoint nodal officers and ensure expeditious claim disposal.