Financial Daily from THE HINDU group of publications
Tuesday, Aug 09, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 09, 2005 |
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Money & Banking
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General Insurance Industry & Economy - Natural Calamities Maharashtra floods: Insurance claims to be settled in 7 days Our Bureau
Mumbai , Aug. 8 INSURANCE claims, arising out of the recent catastrophic floods in Maharashtra, up to Rs 50,000 would be settled within a week, the State government has said. As on date, the four public sector insurers have received 13,000 claims worth Rs 1,400 crore, a Maharashtra Government release said. Those making the insurance claims need to mention only the policy number as the government has decided to do away with the mandatory requirement of producing the policy certificate as in normal course, the release said. The decision regarding the speedy settlement of claims was taken at a high level meeting between the Chief Minster, Mr Vilasrao Deshmukh, and representatives of the four public sector insurance companies here on Monday. Towards ensuring such speedy clearance, the General Insurance Public Sector Association would scale down some of its regular requirements.
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