The Hindu Business Line : United India Insurance settles its largest ever marine claim

UNITED India Insurance Company settled its largest ever marine insurance (hull) claim recently, a company press release said. The claim for Rs 29.60 crore was in respect of the ship - M.V.Lok Pragati, which belonged to the Shipping Corporation of India.

The ship had sunk off the coast of China in August 2004. The claim was settled in December 2004, within a month of the submission of required documents.

The total claims paid by the company in respect of hull insurance during the previous two financial years were Rs 11 crore in 2003-04 and Rs 19 crore in 2002-03.

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