Irdai creates 800 crore fund for awareness

Mumbai: With unclaimed funds held by insurers - including maturity proceeds, death claims and surrender values - exceeding Rs 9,305 crore as of April 2025 due to low awareness, the Insurance Regulatory and Development Authority of India (Irdai) has created a long-missing, dedicated policyholder education and protection architecture with start up capital of Rs 800 crore.In a consultation paper outlining a revamped framework, the regulator has sought to formalise and scale up policyholder outreach through the creation of a structured, statutory corpus - the Policyholders' Education and Protection Fund (PEPF). TNN