Rs 15,167 cr unclaimed money lying with life insurance companies
New Delhi, July 29 : A staggering amount of Rs 15,167 crore amount belonging to policyholders is lying unclaimed with 23 life insurance companies, according to latest regulatory data.
On the basis of this information, the Insurance Regulatory and Development Authority of India (IRDAI) has asked the companies to disburse old insurance claims after identifying the concerned policyholders or beneficiaries.
As per the data released, of the total unclaimed amount of Rs 15,166.47 crore as on March 31, 2018, state-run Life Insurance Corporation towers over other companies in the unclaimed list with Rs 10,509 crore, while the 22 private sector insurers account for the remaining Rs 4,657.45 crore.
Among private companies, ICICI Prudential Life Insurance has Rs 807.4 crore of unclaimed insurance claims, followed by Reliance Nippon Life Insurance (Rs 696.12 crore), SBI Life Insurance (Rs 678.59 crore) and HDFC Standard Life Insurance (Rs 659.3 crore).
Insurance companies are required to update information regarding unclaimed amounts on their websites on six-monthly basis.
IRDAI has earlier asked the life insurance companies to provide a search facility on their website to enable policyholders or beneficiaries ascertain any unclaimed amounts due to them that are still lying with the firms.
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Iran fires air defence batteries and diverts flights after explosions
Jerusalem(AP/PTI): Iran fired air defence batteries Friday and some flights were diverted or grounded after reports of explosions near a major airbase and nuclear site where drones were spotted. It was unclear if the country was under attack, but tensions are high after Iran's unprecedented missile-and-drone attack on Israel. The Israeli military did not immediately respond to a request for comment.
Israel has vowed to respond to Iran's unprecedented weekend attack, leaving the region bracing for further escalation after months of fighting in Gaza. Allies have urged Israel to hold back on any response to the attack that could spiral.
On Thursday, the United States vetoed a widely backed UN resolution that would have paved the way for full United Nations membership for a state of Palestine. The vote in the 15-member Security Council was 12 in favour, the US opposed, and two abstentions.
Separately, the US and Britain announced that they were imposing a new round of sanctions on Iran. The moves came as European Union leaders meeting in Brussels vowed to ramp up sanctions on Iran to target its drone and missile deliveries to proxies in Gaza, Yemen and Lebanon.
Currently:
— Iran fires air defence batteries in provinces as explosions heard near Isfahan.
— The US and Britain issue new sanctions on Iran in response to Tehran's weekend attack on Israel.
— NATO and the EU urge G7 nations to step up air defence for Ukraine and expand Iran sanctions.
— The US vetoes a widely supported resolution backing full UN membership for Palestine.
