As part of ongoing efforts to restore public trust and settle long-pending valid insurance claims, the Insurance Development and Regulatory Authority (IDRA) will conduct the fourth phase of its claim disbursement drive on Sunday (November 8).

In this phase, a total of Tk 20.15 crore will be paid out to 5,972 policyholders across five life insurance companies, IDRA announced in a press release on Saturday.

According to IDRA, Fareast Islami Life Insurance Company Limited will disburse Tk 8.37 crore to 1,074 policyholders, while Homeland Life Insurance Company Limited will settle Tk 5.04 crore in claims for 3,163 customers.

Padma Islami Life Insurance Company Limited will disburse Tk 5 crore to 1,350 policyholders, Progressive Life Insurance Company Limited will pay Tk 1.67 crore to 344 clients, and Baira Life Insurance Company Limited will disburse Tk 7 lakh among 41 policyholders.

IDRA reiterated its commitment to protecting policyholders' interests, ensuring fair claims settlement, and establishing transparency, accountability, and good governance across the insurance sector.

The regulatory authority confirmed that such structured payout initiatives will continue to ensure the sustainable development of the industry.