Total estimated loss reported stands at Rs 5.86 crore tentatively for the firm
SBI General Insurance has received 541 claims after Cyclone Hudhud, which lashed the Andhra Pradesh coast recently, and would settle 70 per cent of claims
Mumbai: SBI General Insurance has received 541 claims after Cyclone Hudhud, which lashed the Andhra Pradesh coast recently, and would settle 70 per cent of claims by Friday, a top official of the company said on Thursday.“After Cyclone Hudhud, we have received 541 claims until now, out of which 70 per cent would be settled by the close of business hours of Friday.
Of these claims, 80 per cent of smaller claims (amount less than Rs 5 lakh) would also be paid by the same timeline,” SBI General Insurance MD and CEO Bhaskar J. Sarma said. On a gross basis, the total estimated loss reported stands at Rs 5.86 crore tentatively for the firm, he said.
“We have already settled 79 claims out of 87 claims from J&K floods victims as on date on account payment made amounting to Rs 1.58 crore, which means 91 per cent of claims repo-rted have been settled. Our team is working on final payment for on account cases with the target as Friday,” he said.
( Source : PTI )
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