FROM PAGE B4

Khaled Mamun, chief executive officer of Reliance Insurance, said they received claims worth Tk 148 crore in the nine months of this year, of which 64 percent has been settled.

“We have some large commercial claims that are managed under the guidance of reinsurers, and the surveyor reports for these claims are still pending,” he added.

He further said delays often occur because policyholders fail to submit proper information.

“These claims are primarily related to property damage caused by fire and flood,” he added.

Mamun emphasised that while the law mandates settling claims within 90 days, insurers cannot proceed without the necessary documentation.

Md Moniruzzaman Khan, executive director of Green Delta Insurance, said they received claims worth Tk 305 crore in the first nine months of this year, of which only 3 percent has been settled.

“The documents requested from policyholders have not yet been received, which is why a good number of customers’ claims have not been paid on time,” he added.

IDRA Spokesperson Alam said the regulator has sought to know about measures taken by the insurers to resolve this issue.