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Claims from Kerala flooding may reach 45B rupees, says official

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Claims from Kerala flooding may reach 45B rupees, says official

Four state-run insurance companies expect to receive about 25,000 claims worth 45 billion Indian rupees due to the severe flooding in Kerala, NDTV reported, citing an official.

AV Girija Kumar, chairman of the General Insurers Public Sector Association of India, or GIPSA, and chairman and managing director of Oriental Insurance Co. Ltd., said the projection was based on the strength of claims made until Aug. 29. Kumar noted that four state insurers got nearly 14,000 claims totaling 12.42 billion rupees as of that date.

Oriental Insurance opened 25 camp offices where affected residents can make their claims, Kumar said, adding that the company will accept claims due to floods until Sept. 30.

About 483 people died in the flood disaster, according to the report, citing Chief Minister Pinarayi Vjayan.

As of Aug. 31, US$1 was equivalent to 70.88 Indian rupees.