After floods devastated valley particularly its business centre Srinagar, assessing loss is in itself a huge task. As various insurance players- both life and non-life operate in valley, there is pressing demand for early disposal of claims.
To expedite the process, according to government spokesman, General Insurance Companies shall be holding a *Three Day Mega Camp for J&K flood Related Insurance claims from 29th September 2014 to 1st October 2014 under the banner* * “Tatpar Aapke Saath’’. This was disclosed in a meeting held on Saturday under the chairmanship of Principal Secretary, Finance, B. B. Vyas attended by representatives of different insurance companies.
According to spokesman, the meeting was told that 279 survey teams have been deployed in the valley
by these Public Sector Insurance Companies for assessment of damaged/ lost properties and 6768 claims so far have been lodged before the various Insurance Companies, out of which 120 claims stands disposed off, with adhoc amount paid to the Insurants to the tune of Rs.4.17 crores as 50% of the adhoc payment.
Pertinently Chief Minister, Omar Abdullah’s in a letter dated September 12, 2014 to the Prime Minister, requested Union Finance Ministry to issue instruction to the Insurance Companies to activate their field Surveyors and Assessors and to establish offices across the State for timely disposal of insurance claims,