Insurance Claims In Kerala May Total Rs 4,500 Crore

Four public sector insurance companies anticipate claims of Rs 4,500 crore on account of the floods that ravaged Kerala, a senior official said on Thursday.

Addressing the media, AV Girija Kumar, Chairman of GIPSA, the coordinating body of all state-run General Insurance Companies and the CMD of Oriental Insurance Co Ltd, said this estimate was based on the strength of claims made till Wednesday.

"On account of the floods and damages in Kerala, till Wednesday the four public sector insurance companies have got 13,730 claims with an estimate of Rs 1,242.05 crore.

"Based on these figures, we estimate that in all there would be 25,000 claims worth Rs 4,500 crore," said Mr Kumar.

He said Oriental Insurance had opened 25 camp offices where people could make their claims.

"We will entertain claims due to floods till September 30. After that they will be entertained on a case-to-case basis. All those who have lost their policy documents can put up claims too. With the motor vehicles sector now computerized, even if the policy document is not there, we will check with the records," said Mr Kumar.

"We have informed the government that if they give details of the dead, we will check with our records and settle all the claims of those insured with us. With regards to claims from the animal husbandry sector, a certificate from the veterinarian will be enough," added Mr Kumar.

Earlier in the day, Chief Minister Pinarayi Vjayan said the flood disaster had claimed 483 lives and the estimated value of destruction was more than the annual outlay of the state.