Insurer’s $50 million flood bill mostly from commercial damage

8/29/2018 6:11:00 AM

Source: Business Insurance

United India Insurance Co. Ltd. has received around 5,000 claims worth more than 3.5 billion Indian rupees ($50 million) so far related to recent floods in the state of Kerala, The Financial Express reported. K.B. Vijay Srinivas, chairman of United India, said that the insurer received most of the claims from the property segment for factories and business-related damage