Claims of Tk 14 Crore Settled for 2,549 Customers of Seven Life Insurance Companies

Staff Correspondent: Insurance claims amounting to Tk 14 crore 51 lakh of 2,549 customers of seven life insurance companies have been settled. The money for these long-pending claims has been handed over to the customers through cheques on the initiative of IDRA.

At a programme organised in the conference room of IDRA on Thursday (3 September), the cheques for the insurance claims were handed over to the customers by the organisation’s Chairperson Mir Nadia Nivin.

These claims have been paid to the policyholders of seven life insurance companies. The companies are: Baira Life Insurance, Fareast Islami Life Insurance, Golden Life Insurance, Homeland Life Insurance, Padma Islami Life Insurance, Progressive Life Insurance and Sunflower Life Insurance.

Of these, Baira Life Insurance has paid Tk 4 lakh 51 thousand to 8 customers, Fareast Islami Life Insurance has paid Tk 5 crore 42 lakh to 528 customers, Golden Life Insurance has paid Tk 2 lakh 51 thousand to 4 customers, and Homeland Life Insurance has paid Tk 10 lakh 66 thousand to 15 customers.

In addition, Padma Islami Life Insurance has paid Tk 1 crore 94 lakh 94 thousand to 624 customers, Progressive Life Insurance has paid Tk 6 crore 90 lakh 32 thousand to 1,350 customers, and Sunflower Life Insurance has paid Tk 5 lakh 21 thousand to 20 customers.

IDRA has informed that a total of Tk 14 crore 51 lakh in insurance claim money has been paid through 94 cheques via these seven companies.

IDRA Chairperson Mir Nadia Nivin said that ensuring the interests and rights of customers is the main priority of IDRA. This programme has been taken as part of the continuous initiative to pay the money of insurance claims that had remained stuck for a long time.

She informed that more insurance claims will also be paid in phases in the future through the liquidation of assets. At the same time, activities for risk-based supervision and the introduction of digital services are being advanced to improve transparency, accountability and customer service in the insurance sector.