Insurers rush to provide relief to Wayanad landslide victims

In a series of landslides following heavy rains, villages, towns and habitats in the region saw unprecedented destruction. Many villages have been cut-off from roads and houses in some areas entirely wiped out. The death toll has already crossed 100 and it is feared that it may further increase

State-run insurers, both life and non-life, have started working towards providing relief to the victims of Wayanad tragedy. For example, National has set up facilitation centres and dedicated teams at Kochi Regional office for close coordination and monitoring.

In a series of landslides following heavy rains, villages, towns and habitats in the region saw unprecedented destruction. Many villages have been cut-off from roads and houses in some areas entirely wiped out. The death toll has already crossed 100 and it is feared that it may further increase.

In view of the unfortunate landslide incident and heavy rains in Kerala, the government has mandated the Public Sector Insurance companies (PSICs), including life insurance behemoth Life Insurance Corporation of India (LIC) and all the four non-life insurers - New India, National, Oriental and United India Insurance company to extend all possible support to the victims of the calamity so that the insurance claims can be expeditiously processed and paid.

The insurance companies have initiated efforts for reaching out to their policyholders through various channels (local newspapers, social media, company websites and SMS) to provide the contact details for assistance in the districts of Wayanad, Palakkad, Kozhikode, Malappuram, and Thrissur, where a significant number of claims are being reported.

The General Insurance Council will coordinate with the insurance companies to ensure that claims are processed and paid expeditiously and will host a portal for all insurers to report claim status daily.

“Talking to Bizz Buzz, Girija Subramanian, CMD, New India Assurance, said, “All New India offices/Claim Hubs in Northern Kerala are in readiness to receive claims relating to the Floods and are taking all steps to provide relief to the claimants.”

We have provided the SPOC details for the districts of Wayanad, Palakkad, Kozhikode, Malapuram and Thrissur districts, where claims are getting reported, in Twitter X and Facebook. Advertisements have been placed in local Malayalam Newspapers in Wayanad, she added.

Also, she said, we are giving information to Magma HDI General Insurance Co, who is the Lead Insurer in the State, who in turn will consolidate the updates of the claims and inform the District Collector of Wayanad on a daily basis.

M Rajeshwari Singh, CMD, National Insurance Company said, “The devastation in Wayanad has left us saddened to the core. Nature's fury in God's own country, again and again makes us ponder over the imbalances which are man-made resulting into loss of lives and properties. Any amount of compensation by way of relief or insurance are beyond the trauma the people went through. My sympathies to all those who lost their loved ones. At this need of hour we at National Insurance are totally committed to our policyholders for assisting them in immediate claims settlements.”

According to Singh, “Facilitation centres have been set up and the contact details are provided in local newspaper, social media and local news channels. The offices have been advised of the dispensation of documentation during such catastrophic events for speedy settlement of claims. Dedicated teams at Kochi Regional office is set up for close coordination and monitoring.”

LIC has been asked by the Centre to speedily disburse the claim amount in respect of the policyholders under the PM Jeevan Jyoti Bima Yojana. The documentation required for processing of claims has been relaxed comprehensively to ensure speedy dispersal of the claim amount.

The Corporation has announced concessions to mitigate the hardships for claimants of LIC Policies and also of Pradhan Mantri Jeevan Jyoti Bima Yojana affected by the Disaster at Wayanad in the State of Kerala.

Earlier, Siddhartha Mohanty, CEO & MD had said that nodal officers have been nominated at Kozhikode Division for liaison with the State Government official in this regard for expeditious claim settlement.

Bank employees’ unions like AIBEA and AKBEF will contribute Rs. 25 lakh for the relief measures. CH Venkatachalam, AIBEA general secretary, says, “We have immediately contacted the leaders of All Kerala Bank Employees Federation and discussed with them about the relief measures that can be undertaken by bank employees and our Unions.”