In another major step aimed at expediting long-pending insurance claims and rebuilding public confidence in the sector, the Insurance Development and Regulatory Authority (IDRA) has taken an initiative to disburse Tk 23 crore to 5,868 policyholders.
With the latest move, the regulator has so far initiated the settlement of claims worth Tk 37.54 crore (Tk 37,54,60,117.58) for a total of 8,417 policyholders across two consecutive phases.
Earlier in the first phase, IDRA arranged the payout of Tk 14.51 crore (Tk 14,51,03,146.58) to 2,549 policyholders who had been waiting for their legitimate dues from seven troubled life insurance companies.
According to IDRA, the remaining valid and unpaid insurance claims will be verified, processed, and settled in phases.
The regulatory body reaffirmed its commitment to continuing this drive until the legitimate rights of all policyholders are fully ensured and public trust in the insurance industry is restored.