Ahmedabad plane crash: IRDAI directs insurers to fast-track crash claim payouts
Ahmedabad plane crash (Photo: AP)
MUMBAI: Insurance Regulatory and Development Authority of India (IRDAI) has directed all insurers to expedite settlement of claims related to the June 12 crash of Air India Flight 171 in Ahmedabad.
The toll now stands at 241 passengers and 33 others, including those on the ground.
In a circular issued Friday, IRDAI said since overseas medical insurance was mandatory for the London-bound flight, insurers must ensure no claims are delayed or denied due to procedural formalities. The regulator advised insurers to rely on official lists of the deceased and waive requirements such as FIRs or post-mortem reports where govt confirmation is available.
Many life insurers have said they will settle life claims without insisting on a death certificate. The crash of Boeing 787-8 Dreamliner caused collateral damage to buildings, including BJ Medical College hostel. IRDAI asked life and general insurance councils to set up a joint help desk at the hospital, where many victims are being treated, to assist with life and health policy claims. Insurers have been told to appoint senior-level nodal officers to coordinate with the joint cell and ensure quick settlements.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Esta nueva alarma con cámara es casi regalada en Ezeiza (ver precio)
Verisure
Más información
Undo
IRDAI directed the insurers to begin submitting their weekly reports from June 16 and asked the two councils to publish insurer-wise claim settlement data on their websites. "This is a moment that calls for compassion, responsiveness and utmost efficiency in supporting affected families," the regulator said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
36 minutes ago
- Time of India
High on mangoes! State's first mango winery gets inaugurated in Malihabad
Lucknow: Looking for a wine tour? Now, look no farther than the city outskirts. On Sunday, the first winery that is going to produce alcoholic beverages through mango and a variety of local fruits was flagged off in Malihabad's Mal area. Set up inside a 100-acre mango orchard, the winery has been set up with a budget of close to Rs 10 crore. Excise minister Nitin Agarwal inaugurated the facility along with other senior officials. Winery founder and operator Madhavendra Deo Singh said that the products would be available at the winery for those who want to buy it and day tour would be on offer after two months. A native of Mal area, Madhvendra said that four products are ready for the launch which have been produced only with the locally grown fruits at the farm and by the farmers in the Mal – Malihabad region. To be priced between Rs 300 and Rs 1,200 the wine bottles would be available in various sizes. "I want to emphasise that wine produced at our establishment is made using only natural ingredients and without any chemicals. I can assure you that we would not be adding ethanol or added sugars as we go forward as well," said the 40-year-old horticulturist who pursued MBA in agricultural business management. Singh set up a private company named Mbrosia Nature Living two years ago before signing up a memorandum of understanding with the horticulture department of the UP govt during the last investors' summit. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esse novo alarme com câmera é quase gratuito em Senador Canedo (consulte o preço) Alarmes Undo To attract investments and boost income of the farmers, the excise department in March 2022 had introduced the concept of 'made in UP' wine. No excise duty is levied over the beverages that are produced using local fruits. Singh said that the four products that are ready to hit the stores have been made using mango, honey, mulberry, mint among other local fruits. "We have also made braggot, a hybrid beverage combining elements of both beer and mead," he added.
Time of India
37 minutes ago
- Time of India
NY court jails 6 NRIs in $15 million hawala case
1 2 Ahmedabad: A group of six Gujarati men, all living illegally in the US, were convicted of running a hawala network. They were found guilty of illegally moving nearly $15 million between the US and India over a period of six months in 2023. Their final sentencing, ranging from 12 to 27 months, was delivered by a New York federal court on June 5. The mastermind, Hirenkumar Patel, 40, was sentenced to 21 months in prison. He earlier pleaded guilty to participating in 42 cash deliveries amounting to over $7.7 million across various locations on the US East Coast. According to case details, the group moved the money between Feb and Sept 2023, using an informal transfer system that relied on physical cash deliveries and the use of informal brokers to transfer funds to designated recipients in India without the money physically leaving the US. Officials said the accused collected large amounts of cash from individuals in the US, which was then delivered to customers of a vendor operating on the dark web. This vendor converted cryptocurrency into cash for clients, the top ones being hackers and drug dealers. None of the six Gujaratis had licences to operate a money-transmitting business under federal or New York state law. The Federal Bureau of Investigation, along with the US Postal Inspection Service and the US Attorney's Office for the Eastern District of Kentucky, led the investigation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Rajendrakumar Patel, 52, received 27 months in prison; Brijeshkumar Patel, 32, was sentenced to 18 months; Naineshkumar Patel, 51, received 12 months and one day; Nileshkumar Patel, 33, was sentenced to three years of probation, while Shaileshkumar Goyani, 36, received a sentence of time served. All six had been living in the US without legal immigration status.
Time of India
37 minutes ago
- Time of India
FD turned into policy without nod, insurance company told to pay back Rs 3.5L
Ghaziabad: The District Consumer Dispute Redressal Commission last week ordered an insurance company to refund Rs 3.5 lakh that was taken from a city resident whose fixed deposit for her minor daughter was converted into an insurance policy without consent years ago. Ritu Garg, the complainant, approached the commission in 2021, alleging that four years ago, an official of AU Small Finance Bank — Rohit Jain — approached her to open a fixed deposit account for her daughter. Garg told the court that she was told the FD would give her 8.5% in returns. Garg opted to go ahead with the FD and deposited two instalments of Rs 1.17 lakh each in 2018 and 2019. Instead of creating an FD, the bank allegedly redirected the funds to Future Generali Insurance Company as premium for a life insurance policy. Garg said she only became aware of this in 2020, when she was informed about the policy by her portfolio manager. The insurance company argued that Garg's claim was false as she had received policy papers. She did not raise any complaints within the 15-day free-look period after being issued the New Saral Anand policy, the company argued. The bank also denied responsibility, saying that its employee – Jain – would not have encouraged an account holder to open a fixed deposit. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Audiologists Furious About United States' New Highest Rated Hearing Device Top Trending News Today Learn More Undo It argued that Garg willingly took the insurance policy. After hearing both sides, the commission -- led by president Praveen Kumar Jain and member RP Singh -- concluded on June 11 that Garg made several attempts in 2020 to have the funds returned. Despite her letters to the bank, stating the money was directed to an insurance policy without her consent, the bank maintained that the interest rate would be comparable to a fixed deposit. The insurance company also told the commission that the premium amount was returned to Garg, but it failed to provide documentary proof. The commission found both the bank and the insurance company guilty of deficiency in services provided to the customer under the Consumer Protection Act. It directed the insurance company to return the entire amount of Rs 3.5 lakh with 6% interest (from the date of the complaint filed) to Garg. It also directed the bank and the insurance company to each pay Rs 5,000 as fine to Garg within 45 days of the judgment.
