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Hyderabad, Aug. 25

In a bid to mitigate the hardships of policyholders affected by the recent flash foods in Surat, the Insurance Regulatory and Development Authority (IRDA) has decided to raise the limits of licensed surveyors and loss assessors for an expeditious settlement of claims by the insurance companies. Under this, the limit of losses required to be surveyed by surveyors and loss assessors has been raised to Rs 50,000 from the existing level of Rs 20,000. In a notification, the IRDA Chairman, Mr C.S. Rao, said the limits revision would be valid only for Surat alone for a period of two months as a special case.

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