Publish annual figures of death claims paid data: Irdai

Following reports of insurers using different methods to arrive at death claims paid data in advertisements, Insurance Regulatory and Development Authority of India (Irdai) has instructed them to publish only “annual figures” of death claims paid ratios, based on the number of policies alone.
 
The figures should reflect the entire financial year and shall be based upon latest Irdai annual report or latest annual audited final figures submitted to the authority, said the regulatory body.
 
If an insurance advertisement contains death claims paid ratio, then the data for individual and group polices should not be clubbed together, Irdai