Insurance companies are likely to hit with around Rs 500 crore after the Kerala floods, as the companies have started to receive claim intimations from the state, reported The Economic Times.
The companies are expected to take these losses under householders’ policies and life and motor claims, according to the report.
New India Assurance has received 65 claims worth Rs 35 crore in the first round and is expecting another 110 claims in the second, the report said.
Not only this, the insurers are expecting claims from rubber, coffee, tea, cardamom producers which can cost more than Rs 600 crore, and even from the Kochi airport, which has an insurance cover of Rs 2,500 crore, the daily said.
First Published: IST