This refers to the assurance given by ICICI Lombard GIC to Kuvera policyholders that once the insurer gets all receipts and claim form they will make an offer to settle their claims within 30 calendar days of said receipt.
Once the user accepts the settlement offer the insurance firm will release payout within 7 calendar days. In case they fail to release payout or offer settlement then the insurance firm will pay penal interest of 2% above the bank rate for the delay to the insured
