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Insurance claims from Ecuador's April earthquake reach 25,000

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Insurance claims from Ecuador's April earthquake reach 25,000

Insuranceclaims related to Ecuador's April earthquake have reached 25,000, Patricio Salas,the head of the national insurance companies' federation, said during a recent presentation,El Diario reported July 21.

Totalclaims paid so far are worth $140 million, with claims totaling an additional $290million still pending, Salas said.

Mostof the claims have come from the province of Manabí, he added.

Policyholdersnormally have three days to notify the insurance company after an accident, butthis period is longer in the case of earthquakes, said Luis Cabezas, executive directorof the federation.

By law,companies have up to 30 days to pay insurance claims, Cabezas added.

A 7.8-magnitudeearthquake struck offthe coast of Ecuador on April 16, killing more than 200 people.