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HindustanTimes Fri,18 Apr 2014

Uttarakhand insurance claims to be upto Rs. 3,000cr

PTI  Coimbatore, July 07, 2013
First Published: 02:52 IST(7/7/2013) | Last Updated: 11:22 IST(7/7/2013)

General insurance claims on account of damage caused by the flood fury in Uttarakhand were estimated to be around Rs. 3,000 crore, a top official of United India Insurance Company Ltd, (UIIC) said on Saturday.

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General insurance claims arising out of the floods was estimated to be around Rs. 3,000 crore, in which UIIC exposure would be Rs. 500 crore, company Chairman cum Managing Director Milind Kharat told reporters here.

"United India has substantial exposure in Uttarakhand and we are eager to settle the losses," he said.

UIIC had so far received 37 claims, he said, adding that surveyors were unable to reach the damaged sites, to assess the losses.

The claims were mainly from hydel power projects, which suffered substantial losses. There were also claims pertaining to property and vehicle damage.

As the insurances companies expected more claims, the General Managers of four public sector general insurance companies? UIIC, New India Assurance, Oriental Insurance and National Insurance?would meet in Dehradun next week to devise a strategy for early claim settlement, Kharat added.

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