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Insurance companies asked to settle claims quickly

  • Published at 06:15 pm January 12th, 2014

Insurance Development Regulatory Authority (IDRA) has asked the insurance companies to settle quickly the claims tabled after being affected by political violence.

Insurance companies should come forward with an attitude to assist their clients in danger, said a circular issued yesterday. It said lives, assets and vehicles of the people are in danger due to the political unrest across the country. The clients are submitting claims to the companies against the assets covered by insurance.

The authorities issued the order in the back drop of complains that the companies were making unnecessary delays in settling the claims – which is being considered as a trick only to discourage the clients to submit the claims.