The Hindu Business Line : PSU insurers clear Rs 614-cr of Mumbai flood claims

THE four public sector general insurance companies have disbursed Rs 614.17 crore in settlement of claims filed for the damage to properties, including motor vehicles, caused by the unprecedented rains that lashed Mumbai and other parts of Maharashtra in July 2005.

Of the Rs 614 crore disbursed, about Rs 575 crore were given out for non-motor claims and about Rs 39 crore for motor vehicles.

The Finance Minister, Mr P. Chidambaram, has been monitoring the progress of the claims settlement on a regular basis. An official release said that the settlement of claims made towards insured properties had been expeditious if one went by the report of the four public sector general insurance companies.

Up to December 23, 2005, the public sector insurers had settled 29,032 cases, out of the 39,458 claims filed before them. This implies that about 74 per cent of the claims has been duly settled.

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