General insurers see more claims from floods

Highlights

Non-life insurance companies are bracing to receive heavy flood claim intimations from their customers in Tamil Nadu, senior industry officials said on Tuesday.

Number of claims from industry may go up as industrial estates heavily suffer from water logging

Chennai : Non-life insurance companies are bracing to receive heavy flood claim intimations from their customers in Tamil Nadu, senior industry officials said on Tuesday. "It is too early to give an estimate of the claims received. The rain seems to have just stopped. Only now we will be getting the claim intimations," a senior official of United India Insurance Company, preferring anonymity.

According to him, United India has started getting claim intimations. "We have got around 17 claim intimations. Five of them for a value of around Rs 10 crore. The number claims for the industry would go up as industrial estates like the one in Ambattur in Chennai suffer from water logging," he said. Industry officials said that most of the claims will be under the fire insurance policy that covers flood and inundation damage apart from fire.

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