NIA settles 420 claims under PMGKP so far

Country's largest non-life insurer, New India Assurance (NIA) has so far settled 420 claims under Pradhan Mantri Garib Kalyan Package (PMGKP) and the amount settled under the scheme is to the tune of around Rs 210 crore.

Talking to Bizz Buzz, NIA CMD, Atul Sahai said that, "The company had received claims numbering more than 1,000 under the scheme, but documents were not available in a big number of claims, neither complete nomination details. Hence, we chased the nodal agencies and finally we could get the details of 620 claims. Again, 140 out of them were found to be ineligible as they were not covered under the scheme. We have already settled claims in 420 cases by last evening and 40 more claims until now."

As of now, New India Assurance has 392 claims pending with it under the scheme. The company has already received Rs 350 crore from the government in three tranches in form of premium for the scheme so far. A total of 22.12 lakh health workers across the country are covered under the scheme, he said. Talking about the launch of API-based claim settlement transmission, he said that New India has launched the App last evening itself.

Prior to it, the FM met all the life and non-life insurers through virtual meeting on Saturday evening to take a stock of the situation under various government insurance schemes. A total of 4.65 lakh claims have been paid amounting to Rs 9,307 crore under PMJJBY. Since the beginning of the pandemic that is April 2020 onwards till date, 1.2 lakh claims have been paid amounting to Rs 2,403 crore, at a disposal rate of 99 per cent. She also called for accelerating disbursement of pending claims under PMJJBY during the pandemic. Sitharaman also took stock of Pradhan Mantri Suraksha Bima Yojana (PMSBY), under which a total of 82,660 claims of Rs 1,629 crore have been paid as on May 31, 2021.

She reviewed the progress made under the Pradhan Mantri Garib Kalyan Package (PMGKP) insurance scheme for health workers fighting Covid-19 and asked insurers to accelerate the disbursement of pending claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).