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United India Insurance Company has paid Rs 25 crore as interim payment to Kerala State Civil Supplies Corporation towards damages caused by floods to the stock of rice and paddy kept in various godowns.
This is the biggest payment ever made by any insurance company in Kerala for any damage caused in floods. This is an interim payment and the final payment will be made once the salvage (damaged rice and paddy) is disposed by Supplyco and the final assessment is made by the insurer. The assessment process is going on and the final report of the surveyor is expected soon, a press release said.
United India had received more than 18,000 claims in the recent floods and 90 per cent of such claims were settled fully and many interim payments are made in the balance claims pending for settlement.
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