Put unclaimed sum info on websites: Irda to insurers
22 Aug 2014 4:03 AM IST
In a customer friendly move, insurance regulator IRDA on Wednesday asked all insurers to give information on their respective website about unclaimed amounts of Rs 1,000 or more due to policy holders. ‘All insurers are required to display the information about any unclaimed amount above Rs 1,000 of policyholders on their respective website,’ said a circular of Insurance Regulatory and Development Authority (IRDA).
It further said insurance companies should provide a facility in the website to enable policyholders or dependents to find out “whether any unclaimed amount due to them are lying with the insurer”.
IRDA said said a policyholder should be able to find out the information by entering details like name, date of birth, policy number and PAN.
‘Name of the policyholder and date of birth may be made as compulsory fields to enter (on website), while policy number and PAN may be optional fields,’ the circular added.
The regulator further said insurers are advised to upload the information as on December 31 by
January 31, 2015. Subsequently, the information should be updated on a half yearly basis.
It further said insurance companies should provide a facility in the website to enable policyholders or dependents to find out “whether any unclaimed amount due to them are lying with the insurer”.
IRDA said said a policyholder should be able to find out the information by entering details like name, date of birth, policy number and PAN.
‘Name of the policyholder and date of birth may be made as compulsory fields to enter (on website), while policy number and PAN may be optional fields,’ the circular added.
The regulator further said insurers are advised to upload the information as on December 31 by
January 31, 2015. Subsequently, the information should be updated on a half yearly basis.
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