Kerala experienced the unprecedented flood and disaster in recent months. There was huge loss of life and property. Massive rescue operations were carried out by Military, NDRF and wings of Naval and Airforce. The rescue operation is almost over but a rehabilitation process has been started which will take time.
Non Life and life insurers are all out to settle the claims at the earliest with minimum formalities. Non Life claim on adhoc basis seems to be Rs.1000 Crs, but the same may increase. IRDAI has advised all companies to settle the claims on a fast track basis and relax the claims formalities wherever possible.
Ayushman Health Scheme has been started w.e.f. 15th August 2018 in certain selected districts of the country in which eligible poor families will be provided health insurance to the extent of Rs.5 Lacs each family. The Government should also give stress on developing the health infrastructure otherwise handling people on such a mass scale would not be possible.
The CMD post in PSU insurers National, United and Oriental is lying vacant for a long time. Government should fill the posts immediately as the vacant posts affect the morale of the company as well as affect business.
IRDAI has asked the Insurers to cover mental illness to provide facilities to such people for their rehabilitation.
The Supreme Court has asked the nonlife Insurers to cover 2 wheeler for long term in order to facilitate them to get relief from yearly hassle and to prevent uninsured vehicles on road.
