Date:05/08/2005 URL: http://www.thehindubusinessline.com/2005/08/05/stories/2005080502000600.htm

Back Chidambaram asks insurers to settle claims quickly

Our Bureau

New Delhi , Aug. 4

THE Finance Minister, Mr P. Chidambaram, on Thursday directed the Chairmen and Managing Director of the four public sector general insurance companies that claims below Rs 50,000, arising out of the recent flooding in Mumbai and other parts of Maharashtra, should be settled by August 31.

The situation arising of the earlier floods in Gujarat was also reviewed.

In a meeting here on Thursday with the chiefs of the insurance companies, Mr Chidambaram also said that efforts should be made to clear maximum number of claims expeditiously. Insurers informed that around 11,000 claims have been lodged with them amounting to Rs 1,400 crore.

Out of these, 3,558 relate to `Miscellaneous' policies (householders and shopkeepers) and 2,619 to Motor Own Damage and the rest to Fire and Marine.

Mr Chidambaram directed that in Gujarat also claims up to Rs 50,000 should be settled by August 31.