General insurer settles 120 claims of flood damage

SBI General Insurance has settled nearly 120 claims, largely from small and medium enterprises, related to property damage during last month’s flood in the State.

“We had received more than 120 claims for damage to property and businesses and 100 motor claims post the flood. Majority were from Hyderabad and neighbouring districts. Keeping the impact of damage in mind, on a priority basis, we settled claims of stalled business on a fast-track mode,” MD and CEO P.C.Kandpal said.

A release from SBI General Insurance said the insurer pro-actively tried to connect with customers in Telangana and Andhra Pradesh enquiring for any damages that can be covered under insurance claim. Thereafter, it took steps to expedite claims received from both the States, where heavy rains and floods caused widespread loss of property, roads, businesses and crops. The flash flood had disrupted businesses of SMEs having manufacturing units, factories, shops and godowns. Overall, at SBIG, approximately 120 property claims had been addressed largely covering SMEs, thereby helping these businesses get back on feet, the release said. It did not provide information on amount of claim paid. Mr. Kandpal said to provide seamless claim service to those affected by Cyclone Nivar “we have made necessary arrangements for our policyholders.”