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Business Standard
a day ago
- Business
- Business Standard
Air India crash: Group accident policies and InstaClaims bring quick relief
In the aftermath of the tragic Air India crash in Ahmedabad on June 12, insurance companies have begun processing a flurry of claims spanning multiple categories — including travel insurance, personal accident, life insurance, and even Kisan Credit Card-linked covers. The ill-fated Boeing 787 Dreamliner, bound for London, crashed shortly after takeoff, killing 260 people — 241 onboard and 19 on the ground. The incident, India's deadliest aviation accident in over a decade, has prompted the Insurance Regulatory and Development Authority of India (IRDAI) to issue special directives to fast-track claim settlements. ICICI Lombard General Insurance reported receiving claims under travel and personal accident policies. These include accidental death, trip cancellations, baggage loss, and hotel booking cancellations. 'We are working on a priority basis to provide seamless assistance and ensure timely settlements. Our commitment is to support our policyholders and their families during this difficult time,' said Priya Deshmukh, Head – Health Products, Operations & Services, ICICI Lombard. Bajaj Allianz also confirmed receiving three personal accident claims and one marine cargo insurance claim, indicating that goods in transit may have been affected. Personal accident covers are emerging as a significant category, second only to life insurance claims. Quick Settlements, Group Policies Activated New India Assurance has already settled seven individual personal accident claims and five under group policies. A notable case involved a group personal accident policy for 4,000 residents of Mehsana district, where the claim was processed and settled within a week of the crash. One Kisan Credit Card-related claim worth ₹50,000 was also honored. Axis Max Life Insurance, under its 'InstaClaim' process, settled one claim within three hours of receipt. 'This reflects our focus on empathetic action when it matters most,' said Manu Lavanya, COO, Max Life. However, most insurers have refrained from disclosing the exact number or details of claims, citing the ongoing process of receiving formal requests from the families of the deceased. In one notable case, a group personal accident policy covering 4,000 people in Mehsana district resulted in a claim settlement within a week of the crash, a representative of the insurer said. IRDAI Steps In to Ease Process Recognizing the scale of the tragedy, the IRDAI issued a circular on June 14 instructing insurers to fast-track payouts. The regulator has waived formal requirements like FIRs and postmortem reports and directed companies to submit weekly updates starting June 16. Insurers were also asked to appoint nodal officers to assist affected families. What's Next for Claimants? Insurance company representatives said that many bereaved families are still coping with their loss and may approach insurers in the coming weeks. Given the exceptional circumstances, companies have promised to show flexibility and prioritize compassionate engagement. The Ahmedabad crash underscores the importance of having comprehensive insurance coverage — especially for frequent flyers, business travelers, and families with exposure to international travel — and highlights how insurance, when structured correctly, can serve as a financial lifeline in the worst of times. With inputs from PTI
The Hindu
2 days ago
- Business
- The Hindu
From hotel cancellation to loss of baggage, Ahmedabad air crash victims opted for array of insurance
From hotel booking cancellations to loss of baggage, and from accidental death coverage to trip plan withdrawals, insurance companies have received a range of claims from the kin of the Ahmedabad Air India plane tragedy victims. The incident has triggered claims under various insurance categories like travel, personal accident, and life insurance, including those from Kisan Credit Card holders. 'We have received claims primarily under travel insurance and personal accident insurance products. These include accidental death, trip cancellations, loss of baggage and hotel cancellations.' "At ICICI Lombard, we are working on a priority basis to provide seamless assistance and ensure timely settlement. We remain committed to supporting our policyholders and their families during this difficult time," Priya Deshmukh, Head Health Products, Operations & Services, ICICI Lombard, said in response to a query by PTI. On June 12, the London-bound Boeing 787 Dreamliner began to lose thrust almost immediately after taking off from the Ahmedabad airport and ploughed into a medical college hostel in Meghaninagar area, killing all but one of the 242 onboard and another 19 on the ground in the deadliest aviation accident in a decade. Bajaj Allianz General Insurance said it has received claims related to personal accidents and marine cargo. "We have received three claims related to travel personal accidents coverage and one under marine cargo insurance," Bajaj Allianz General Insurance said in response to a PTI query. Marine cargo insurance typically covers goods in transit via road, rail, air, sea, or courier. Personal accident claims have emerged as a significant category, second only to life insurance. However, most insurers have refrained from disclosing the exact number or details of claims, citing the ongoing process of receiving formal requests from the families of the deceased. In one notable case, a group personal accident policy covering 4,000 people in Mehsana district resulted in a claim settlement within a week of the crash, a representative of the insurer said. A New India Assurance official said the company has settled seven claims related to personal accidents and five group personal accident claims. One claim of ₹50,000 was availed under the Kisan Credit Card scheme. Immediately after the accident, the Insurance Regulatory and Development Authority of India (IRDAI) issued directives to fast-track the settlement of claims. In a circular dated June 14, the IRDAI asked all insurance companies to submit weekly updates on claims from June 16 onwards and further directed them to appoint nodal officers, waive formalities such as FIRs and postmortem reports, and expedite disbursals under life and personal accident policies. Company representatives said they have been expediting the claims received from the families. They said several kin are still grappling with the loss and would eventually approach them if there are any claims. Axis Max Life Insurance COO Manu Lavanya said that under the company's InstaClaim process, "we were able to settle a claim for one of the victims of the tragedy within just three hours, which reflects our focus on empathetic action when it matters most."
The Print
2 days ago
- Business
- The Print
From hotel cancellation to loss of baggage, Ahmedabad air crash victims opted for array of insurance
'We have received claims primarily under travel insurance and personal accident insurance products. These include accidental death, trip cancellations, loss of baggage and hotel cancellations. The incident has triggered claims under various insurance categories like travel, personal accident, and life insurance, including those from Kisan Credit Card holders. Ahmedabad, Jul 13 (PTI) From hotel booking cancellations to loss of baggage, and from accidental death coverage to trip plan withdrawals, insurance companies have received a range of claims from the kin of the Ahmedabad Air India plane tragedy victims. 'At ICICI Lombard, we are working on a priority basis to provide seamless assistance and ensure timely settlement. We remain committed to supporting our policyholders and their families during this difficult time,' Priya Deshmukh, Head Health Products, Operations & Services, ICICI Lombard, said in response to a query by PTI. On June 12, the London-bound Boeing 787 Dreamliner began to lose thrust almost immediately after taking off from the Ahmedabad airport and ploughed into a medical college hostel in Meghaninagar area, killing all but one of the 242 onboard and another 19 on the ground in the deadliest aviation accident in a decade. Bajaj Allianz General Insurance said it has received claims related to personal accidents and marine cargo. 'We have received three claims related to travel personal accidents coverage and one under marine cargo insurance,' Bajaj Allianz General Insurance said in response to a PTI query. Marine cargo insurance typically covers goods in transit via road, rail, air, sea, or courier. Personal accident claims have emerged as a significant category, second only to life insurance. However, most insurers have refrained from disclosing the exact number or details of claims, citing the ongoing process of receiving formal requests from the families of the deceased. In one notable case, a group personal accident policy covering 4,000 people in Mehsana district resulted in a claim settlement within a week of the crash, a representative of the insurer said. A New India Assurance official said the company has settled seven claims related to personal accidents and five group personal accident claims. One claim of Rs 50,000 was availed under the Kisan Credit Card scheme. Immediately after the accident, the Insurance Regulatory and Development Authority of India (IRDAI) issued directives to fast-track the settlement of claims. In a circular dated June 14, the IRDAI asked all insurance companies to submit weekly updates on claims from June 16 onwards and further directed them to appoint nodal officers, waive formalities such as FIRs and postmortem reports, and expedite disbursals under life and personal accident policies. Company representatives said they have been expediting the claims received from the families. They said several kin are still grappling with the loss and would eventually approach them if there are any claims. Axis Max Life Insurance COO Manu Lavanya said that under the company's InstaClaim process, 'we were able to settle a claim for one of the victims of the tragedy within just three hours, which reflects our focus on empathetic action when it matters most.' PTI PR SKL NSK GK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
2 days ago
- Business
- Time of India
Ahmedabad air crash: Insurers process claims across travel, personal accident, life, and credit-linked covers
Following the Ahmedabad Air India plane tragedy, insurance firms are processing claims. These claims include travel, personal accident, and life insurance. ICICI Lombard and Bajaj Allianz are handling claims related to the accident. IRDAI directed insurers to expedite settlements. Some companies have already settled claims quickly. Insurers are working to support the affected families during this difficult time. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A broad spectrum of insurance claims has been filed following the devastating Air India plane crash in Ahmedabad, ranging from baggage loss and hotel cancellations to personal accident and life insurance payouts , according to companies are processing claims from the families of victims who were covered under various policies, including travel insurance , life insurance, personal accident covers, and even Kisan Credit Card-linked policies.'We have received claims primarily under travel insurance and personal accident insurance products. These include accidental death, trip cancellations, loss of baggage and hotel cancellations," said Priya Deshmukh, Head of Health Products, Operations & Services at ICICI Lombard 'At ICICI Lombard , we are working on a priority basis to provide seamless assistance and ensure timely settlement. We remain committed to supporting our policyholders and their families during this difficult time,' she added in a response to claims come in the wake of the June 12 crash involving a London-bound Boeing 787 Dreamliner, which lost thrust shortly after takeoff from Ahmedabad airport and slammed into a medical college hostel in the Meghaninagar area. The crash killed 241 of the 242 people onboard and 19 on the ground, marking the deadliest aviation accident in India in a decade. Bajaj Allianz General Insurance said it had received three claims under travel personal accident coverage and one under marine cargo insurance. Marine cargo insurance typically covers goods in transit via road, rail, air, sea, or accident claims are reportedly among the most common, second only to life insurance payouts. However, most insurance firms have not disclosed specific numbers, citing the ongoing nature of claims processing In one notable case, a group personal accident policy covering 4,000 individuals in Mehsana district led to a settlement within a week of the crash, a representative said. New India Assurance has settled seven individual personal accident claims and five under group personal accident policies. One claim of ₹50,000 was processed under the Kisan Credit Card scheme Immediately after the crash, the Insurance Regulatory and Development Authority of India (IRDAI) stepped in with a circular on June 14, instructing insurers to fast-track claim settlements. The regulator directed companies to waive standard requirements like FIRs and postmortem reports, appoint nodal officers, and provide weekly claim updates starting June Max Life Insurance COO Manu Lavanya said the company had successfully processed one claim within hours. 'We were able to settle a claim for one of the victims of the tragedy within just three hours, which reflects our focus on empathetic action when it matters most,' Lavanya companies say they expect more claims to surface in the coming weeks as families gradually come to terms with the tragedy.
Hindustan Times
10-05-2025
- Politics
- Hindustan Times
Security beefed up across Pune city amid tensions on India-Pakistan border
In the wake of an attempted airstrike by Pakistan, a nationwide alert has been issued in India and heightened security measures have been implemented across major cities. Pune has responded with elevated vigilance focusing in particular on religious sites with high footfalls such as the iconic Shrimant Dagdusheth Halwai Ganpati a precautionary measure, the entire area around the temple has been cordoned off with a heavy police presence. 'Security personnel are closely monitoring the movement of every individual entering and exiting the temple premises. Anti-riot squads have been deployed, and the Quick Response Force (QRF) has taken position outside the temple to prevent any untoward incidents,' said a senior police official on condition of anonymity. Temple authorities and security personnel are keeping a check on the flow of devotees by ensuring that visitors do not remain inside the temple for extended periods of time. Mahesh Suryavanshi, treasurer of the Dagdusheth Ganpati Mandal, said, 'Devotees are allowed quick darshan (viewing) and are being asked to exit the premises promptly. Vehicle checks have been intensified around the temple area, and patrolling has increased throughout the city.' Amid escalating military tensions between India and Pakistan, Pune like the rest of India has been placed on high alert. Security agencies are treating religious sites, including the Dagdusheth Temple, as sensitive locations that could be targeted. Past threats to blow up the temple have only added to the concerns, prompting swift action from the police and military. Authorities have assured the public that all possible steps are being taken to neutralise any threat. The swift action taken by the Indian defence forces in thwarting Pakistan's plan to target the Golden Temple underscores the country's preparedness. Similar vigilance is now being mirrored in Pune, ensuring that places of worship such as the Dagdusheth Temple remain safe amid the conflict. Since the night of May 8, checkpoints have been established across the city, especially in vulnerable zones. In addition to the regular police force, the security setup now includes units from the State Reserve Police Force (SRPF), riot control teams, and bomb detection and disposal squads. Historic monuments like the Shaniwar Wada, too, have seen a surge in security measures and military units have been partially deployed to support local law enforcement in ensuring public safety. Although there has been some easing of security measures on the morning of May 9, several areas in Pune remain on high alert. The Dagdusheth Temple continues to be a focal point of security due to its cultural and religious significance. Priya Deshmukh, a local devotee said, 'I visit Dagdusheth Bappa every Thursday, and today, I saw commandos with rifles. It's a bit unsettling, but I understand it's for our safety. I am just praying for peace.' While Ramu Meshram, a shopkeeper near the temple, said, 'Business is slow because people are scared, but we support the police. They are working day and night to protect us. We just hope things return to normal soon.' Meanwhile, the government has appealed to the public not to panic. Citizens have been advised not to spread or believe in rumours. Official advisories have been issued urging people to follow instructions issued only by the administration or verified government sources.
