Public Sector Insurers received claims for Rs 1,200 crore so far

Thiruvananthapuram: Whoever may be the biggest losers in the devastating floods, and whatever the extent of their damage, there is one segment going to bear the brunt in a different way: insurers. Till Saturday last, the number of claims the four public sector insurance companies put together received, was a whopping 11,500 for claims to the tune of Rs 1,200 crore.

Since there are some areas where water is yet to subside, including Kuttanad, the claims are likely to go up by another 25 per cent in the coming days.

As per preliminary estimates, the amount the four companies, National Insurance Co, New India Assurance Co, United India Insurance Coand Oriental Fire & General Insurance Co together will have to shell out will be Rs 2,000 crore. The claims will mostly be for destroyed or damaged houses and vehicles and loss of domestic animals.

The heads of all the four companies met in Chennai and evaluated the circumstances in Kerala. They made guidelines to clear dues seamlessly and sent them to Kerala heads of the companies. These representatives of the insurers also attended the meeting convened by officials from central finance ministry at Thiruvananthapuram on Wednesday.

Director and General Manager of United India Insurance Co, Vijay Sreenivas said that the public sector insurance companies have made all arrangements to settle the claims speedily. As a first step, particulars about losses were being gathered via phone and email and directly at the offices. The company's regional office in Ernakulam has opened a special cell exclusively to handle such claims.

Messages have also been sent to policy holders about making claims. For their speedy settlement, claim form, form informing damage and survey reports have been simplified. In order to ensure settlement of claims without delay, services of Malayalam-speaking surveyors from outside the state have also been enlisted.