Insurance Claims for Cyclone Fani Expected To Be Rs 3,500 Crore
May 10, 2019
A public general insurance company has said that due to the significant losses to vehicles, crops, and property in Odisha after the battering by cyclone Fani, the total insurance payout will be about Rs 3,500 crore. Insurers believe that since the cyclone lasted for a short period, the claims will remain at this level.
Insurance providers are getting ready for the insurance claims that property and vehicle owners will submit. The Insurance Regulatory and Development Authority of India (IRDAI) have requested insurance companies to expedite the claims process so that people get quick relief. The regulatory body also wants insurers to provide a daily report on cyclone death-related claims in Odisha and its neighboring states.