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.
This
was stated by Shri Namo Narain Meena, MoS in the Ministry of Finance in written
reply to a question in the Rajya Sabha.
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