bdnews24.com :
The insurance regulator has fined Janata Insurance CEO Fazlul haque Khan Tk 100,000 for failing to pay a claim in time.
The company was also asked to pay the claim with interest within seven days.
The Insurance Development and Regulation Authority (IDRA) in a media statement on Tuesday said a letter had been sent to the company on Monday to the effect.
An IDRA official said Shahi Crockery’s, a crockery store in Dhaka, burned down on July 4, 2012.
The store was insured for fire with Janata Insurance. After the accident, the insurers employed two firms to assess the damage.
The firms, Concept Inspection and MM Inspection, assessed a Tk 986,580 damage in December that year.
On May 6, 2013 Janata Insurance paid Tk 800,000 but refused to pay the rest.
It told the store that it had filled in the loss voucher and sent it to the insurer, so there was no scope to get the rest of the money.
