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Insurance companies warned against delay in release of insurance claims to farmers

Hyderabad: Telangana Agriculture & Cooperation Department Secretary C. Parathasarathy has fixed October 13 as deadline for release of claim amount by insurance companies towards Kharif 2016 Claims.

A meeting was convened by APC & Secretary to Government, Agril & Co-operation Department on Tuesday and attended by Commissioner of Agriculture with the implementing Insurance Companies to review the status of release of Insurance claims to the farmers.

The meeting was attended by Director, Planning; CEO, TSDPS; DGM, AIC and representatives from Chola Ms GIC, Bajaj Allianz, SBI GIC and Reliance GIC.

During the meeting it was informed that an amount of Rs. 80 crore has been deposited in the banks by the insurance companies out of the Rs. 154.36 crores claim amount for Kharif 2016.

Fixing October 13 as deadline to release claims, the insurance companies have been instructed to furnish village wise, mandal wise claim data under PMFBY & RWBCIS for 2016-17 immediately.

Insurance companies have expressed their difficulty in disbursement of claims due to merging of banks and other issues relating to changes in IFSC Codes and farmers bank account details.

The APC expressed his concern and instructed strictly to adhere to the deadline towards settlement of Kharif 2016 claims and not to express any invalid reasons for delaying the release of amounts and given a warning to black list the company if settlement is not made in time and same would be brought to the notice of Government of India.

The APC instructed the insurance companies to compute the Rabi claims at the earliest and fixed 23-10-2017 as deadline for settlement of Rabi 2016-17 claims as the state share premium subsidy is released and the entire data is already provided to the Insurance companies by the Director of Planning and CEO, TSDPS.

He also spoke to the Government of India officials regarding the early release of Central share premium subsidy for Rabi 2016-17. It was informed that it will be released within five days. (INN)

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