Kochi Metro Rail Ltd (KMRL) has filed a claim intimation for ₹200 crore with New India Assurance Company Ltd. (NIACL) for the losses it suffered during the recent floods.
Cochin International Airport Ltd (CIAL), which has an insurance coverage of ₹2,500 crore from the NIACL, and Kochi Marriott Hotel are yet to file their claims for the losses suffered in the floods.
No death claims
The NIACL has not so far received any claim intimations for accidental deaths in the floods though over 400 have been killed in the monsoon fury. Only 235 claim intimations of houses damaged in the floods have been received.
“The KMRL has an insurance coverage of ₹2,500 crore. They have cited damage to equipment and flooding of the Muttom yard. The surveyor has put the initial estimate of loss at ₹130 crore. The process of drying and dehumidifying the equipment by a Chennai agency is on. The claim amount will probably be in the range of ₹75 to ₹100 crore,” Joint Chairmen and Managing Directors (CMD), NIACL, H.G. Rokade and C. Narambunathan told a press conference here on Friday.
As on date, the NIACL has received 7,380 claim intimations for an estimate of ₹245 crore.
The company has already settled 491 claims and paid ₹35 lakh. The highest claim awarded is ₹5 lakh. The NIACL has extended the date of filing claim intimation for individuals till September 30 and for others till September 15, they said.
On account payment
For major claims, the NIACL has decided to give 50% as “on account payment”. A sum of ₹3,500 is being given for two- wheelers for cleaning, changing battery, oil, spark plug, cleaning of clutch and brake for minor repairs without bill by fast-track settlement.
Mr. Rokade and Mr. Narambunathan said they had sought the services of surveyors from outside the State to conduct quick survey and settlement of claims. Instructions had been given for speedy settlement of claims to houses and shops.
Replying to queries, the Joint CMDs said they expected a loss of ₹500 crore in the State on account of the floods.
DGM and Kerala Head John Philip said they were expediting steps to settle all the claims by October. “Yards will be set up in the flood-hit districts to auction vehicles badly damaged in the floods,” he said.
. The NIACL also donated ₹3 crore to the Chief Ministers Distress Relief Fund on Friday.
