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Mumbai claims to be around Rs 50 crore: Royal Sundaram Insurance

Economic Times, 31 December, 2005


Place : Mumbai

Royal Sundaram Alliance Insurance expects the total claims arising out of the Mumbai rains to be Rs 30-50 crore. However, the net impact is expected to be limited, thanks to reinsurance and risk management measures, a senior official said. Antony Jacob, MD, Royal Sundaram, said, ''As of date, we have received around 500 claims. These individual claims range from few thousands to a few crore rupees and we expect the total to be between Rs 30-50 crore.'' Royal Sundaram Alliance Insurance expects the total claims arising out of the Mumbai rains to be Rs 30-50 crore. However, the net impact is expected to be limited, thanks to reinsurance and risk management measures, a senior official said. Antony Jacob, MD, Royal Sundaram, said, ''As of date, we have received around 500 claims. These individual claims range from few thousands to a few crore rupees and we expect the total to be between Rs 30-50 crore.

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