Kashmir Floods: IRDA Gives Special Dispensation For General Insurers

KL Report

SRINAGAR

Insurance Regulatory and Development Authority (IRDA) Wednesday raised the limit of losses required to be surveyed by a licensed surveyor and loss assessor for settlement of claims arising out of recent floods in the State of Jammu & Kashmir from Rs 20,000 to Rs 50,000. This was reported by Mumbai based business newspaper.

According to statement, this exemption is valid for a period of two months from the date of this order.

This special dispensation is given to insurers to ensure expeditious settlement of claims and for mitigating hardships to policyholders in the State of Jammu and Kashmir.

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