(1) If an insurance claim is submitted as mentioned in the insurance policy, if the insurer is required to assess the damage of such claim, it shall do so, and if it is not required to assess the damage, it shall fail the claim within the specified period from the date of such submission.
(2) According to the prevailing law, if the insured or his rightful owner is not found within the specified period or if the claim cannot be paid to him, the amount should be deposited in the unclaimed fund (unclaimed fund) in such a way that payment is made when the claim is made. (3) If the person who is to be paid the amount due to the insurance claim is not found, the insurer shall keep the evidence of having sought, tried to contact the insured or the claimant in any way, or made repeated attempts to pay the amount.
(4) The insurer shall submit the details of the unsuccessful claims to the authority within the specified time.
(5) Notwithstanding anything written elsewhere in this Act, in the event of a major calamity or other crisis in any part of the country, the authority may prepare and implement a separate procedure for insurance claims for a certain period of time at the place where such crisis occurs.
(6) Insurance claim waiver and other provisions regarding unclaimed funds shall be as prescribed.