IDRA hands over Tk 14.51cr in insurance claims

The Insurance Development and Regulatory Authority (IDRA) yesterday handed over insurance claim cheques worth Tk 14.51 crore to 2,549 policyholders, as part of its efforts to speed up claim payments and rebuild public trust in the insurance sector.

At a ceremony at the IDRA conference room, IDRA Chairman Mir Nadia Nivin distributed 94 cheques to policyholders of seven life insurance companies.

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The cheques were issued to policyholders of BAIRA Life, Fareast Islami Life, Golden Life, Homeland Life, Padma Islami Life, Progressive Life and Sunflower Life.

Speaking at the event, Nadia said ensuring timely payment of legitimate claims remains one of IDRA’s top priorities. She stressed the need for faster and more transparent claim settlements to rebuild public confidence in the sector.

“IDRA will take all necessary steps to protect the interests of policyholders,” she added.

The regulator said timely settlement of insurance claims protects the financial rights of policyholders and helps strengthen public trust in the industry.