Cyclone insurance bill rises to $280 million

8/8/2018 6:50:00 AM Source:

Business Insurance

Oman’s Capital Market Authority said that cyclone Mekunu is likely to cause up to 108 million Omani rials ($281 million) in insured losses, Times of Oman reported. The financial regulator said that insurers have received claims primarily related to property, vehicles, engineering and marine equipment damage among others. The cyclone struck the region on May 25