INDIAN INSURERS FACE RP750M BILL FROM MUMBAI FLOODS

Claims worth Rp750m ($18.5m) have been submitted as a result of the half a metre of rain that fell in Mumbai on June 29, reports Insurance Day . An unnamed senior official with one of the country’s four public-sector insurers hinted that the company would be diligent in its claims-handling. “We have asked our surveyors to be ruthless while assessing damages. We will be fair but firm while making payouts and will not pass inflated claims as we had to do last time round”, he said. Private sector insurer Bajaj Allianz said that it had received some 70 claims amounting to Rp50m. About 3,000 claims have been lodged in total, the report said.