The
Insurance Regulatory and Development Authority (IRDA) have informed
that as on 31st December 2012, the unclaimed money of policyholders with
Life Insurance Corporation of India was Rs.732.67 crores. For the
other life insurance companies and non-life insurance companies, the
unclaimed money of policyholders was Rs. 3122.68 crores and Rs.1010.46
crores respectively, as on 31st March 2013. The Government has not
conducted any survey in this regard.
IRDA has further informed that it has advised all insurance companies vide its Circular dated 4th November 2010 that such unclaimed amount will not be appropriated/written back, in any circumstance.
IRDA has further informed that it has advised all insurance companies vide its Circular dated 4th November 2010 that such unclaimed amount will not be appropriated/written back, in any circumstance.
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