|
The Finance Minister, Shri P. Chidambaram held a meeting here today, with all the CMDs of public sector general insurance companies and reviewed the position of claims and process of settlement in respect of Mumbai and other parts of Maharashtra where immense damage has been caused to life and property due to recent heavy floods. It was decided in the meeting to follow a simplified procedure for quick settlements of claims. According to the latest position, PSU Companies have informed that approximately 11,000 claims have been lodged with them amounting to Rs.1400 crore. Out of these, 3558 relate to Miscellaneous (Householders, Shop Keepers etc.) and 2619 to Motor Own Damage. The rest relate to Fire and Marine.
The Finance Minister directed the CMDs of the PSU general insurance companies that claims below Rs.50,000 should be settled by 31st August, 2005 and efforts should be made to clear a maximum number of other claims also expeditiously.
Shri Chidambaram reviewed the position of settlement of claims for the Gujarat floods also. As on 29th July, 2005, approximately 4500 claims are pending involving an amount of Rs.134 crore. He directed that in Gujarat also, claims upto Rs.50,000 should be settled by 31st August, 2005. The Finance Minister also directed the Insurance Companies that all other claims-including claims of over Rs.50,000 should be dealt with expeditiously.
BSC/BY/GN-282/05
|
