PMFBY claims: ICICI Lombard to be blacklisted for this reason, management sends proposal to Govt

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ICIC Lombard Black List Proposal to Maharashtra Government:Madhya Maharashtra’s Akola district administration has recommended blacklisting ICICI Lombard for delay in payment of crop insurance to farmers. A senior official of the district administration informed the media about this on Tuesday. District Collector Neema Arora said that a private company has been appointed for crop insurance in the district, but there is delay in settlement of farmers’ compensation claims after natural calamities.

There have been many complaints about the performance of the insurance company.
An investigation led by DM District Magistrate Neema Arora revealed that ICICI company offices in the district were not adequately staffed. He told reporters that he has sent a proposal to the government on Monday to blacklist the company. It is also alleged that the company is not discharging any of its responsibilities properly. Due to which the farmers are facing difficulty as they do not get the insurance amount at the right time after the delivery of the crop.

Case against 10 employees of ICICI Lombard
The state agriculture department had on March 21 registered a case against 10 employees of ICICI Lombard at the police station under sections 420 (cheating) and 465 (forgery) of the Indian Penal Code.

Meanwhile, on seeking clarification from the company on the matter, a statement from ICICI Lombard said its spokesperson said it was talking to the authorities. are in touch and will extend our full support to ensure speedy resolution and settlement of claims as per PMFBY operational guidelines. “