Bajaj Allianz Settles Over 700 Claims, Pays Over Rs 35 Crores

KL Report


Bajaj Allianz General Insurance Company is in the process of final settlement of around 2000 insurance claims in the Kashmir valley within a week’s time. The company has so far paid insurance claims involving an amount of over Rs 35 crores by settling more than 700 cases.

This was stated by the State Head   of the company, Aijaz Khan.  Notably, Bajaj Allianz had not approached the Supreme Court against the order of the J&K High Court which had directed the insurance companies to pay 50 per cent of insured amount for policies above Rs 25 lakh and 95 per cent for policies below Rs 25 lakh as interim relief to people of Jammu and Kashmir who lost their properties in the recent floods.

Four public sector insurance companies had jointly approached the Supreme Court with a plea seeking one month time to carry out the survey before settling the claims, which was rejected by the apex court.

Notably, the company is extending insurance cover here in association with J&K Bank.

The company has already announced that the claims where loss is up to Rs.50000 would be settled without involving a surveyor. The claims up to Rs 5 lakhs are being settled through fast track system and surveyors have been instructed to finalise it on the spot.

The company has sought cooperation of the claimants and assures that they would be getting their money at any cost.

Meanwhile, the National Head of claims, Praveen chajjed who is camping in the valley for last 22 days said, “Ours is the first company to start surveying the losses in the state. We deployed a strong team of surveyors here, who swiftly got into action and reached the affected people in minimum possible time. So far 90% of claims intimated till date have been surveyed.”

“Bajaj Allianz is always there for the people of J&K state and will always remain at their service,” the regional head said.

It is also worth mentioning that Bajaj Auto has announced a contribution of Rupees 20 crore for the Prime Minister National Relief Fund. The Company has contributed this amount to provide relief efforts in the flood ravaged areas in Jammu & Kashmir.

Bajaj Group of companies and trusts are very actively involved in various CSR and philanthropic activities such as Education, Medical Health, Sanitation especially providing clean toilets for girl Schools and ensuring supply of clean drinking water etc. and expect to contribute more than 150 crores during the current financial year 2014-15.

Rahul Bajaj, Chairman, Bajaj Auto in a statement has said, “We feel the grief of our fellow citizens in the state and they need our help at this critical time to come out of this tragedy and to rebuild their lives. 


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