Six Insurance Companies to Pay Tk 26 Crore in Claims to 7,641 Policyholders

Staff Correspondent: Six insurance companies will pay Tk 26.36 crore in insurance claims to 7,641 policyholders on October 4 under an initiative by the Insurance Development and Regulatory Authority (IDRA).

The cheques will be handed over at a programme at the IDRA office, according to a press release issued by the insurance regulator.

The payments are part of the third phase of IDRA’s initiative to settle pending insurance claims.

In this phase, Baira Life Insurance will pay Tk 5.81 lakh to 34 customers, while Homeland Life Insurance will pay Tk 4.87 crore to 1,381 customers.

Padma Islami Life Insurance will pay Tk 9 crore to 2,348 customers and Progressive Life Insurance will pay Tk 6.78 crore to 2,140 customers.

Sunflower Life Insurance will pay Tk 30 lakh to 165 customers, while Sunlife Insurance will pay Tk 5.35 crore to 1,573 customers.

IDRA said the initiative aims to help customers receive their unpaid claims.

In the first two phases, 8,417 customers received a total of Tk 37.54 crore in insurance claims.

During the first phase on September 3, a total of 2,549 customers received Tk 14.51 crore. In the second phase on September 14, another 5,868 customers received Tk 23.03 crore.

After the third phase, a total of Tk 63.91 crore in claims will have been paid to 16,058 customers through the initiative.