Life insurance claims settlement: The Insurance Development and Regulatory Authority (IDRA) has ordered four life insurance companies to not spend any amount from their income through premiums, investments and life funds unless they settle claims of policyholders by the end of December
Bangladesh’s life insurance sector has always struggled in claim settlement, but the sector still has some good companies who are bearing the torch for all with faster fund repayment and good corporate governance.
A number of life insurance companies in Bangladesh struggled to settle claims in 2022 due to a lack of liquidity resulting from bad investments and fund embezzlement by their chairmen and directors.