1,500 Flood Insurance Claims Received; Settlements in a Month: SBI

KOCHI:
The SBI General Insurance reported to having received nearly 1,500 flood insurance claims from across the state and said it was in the process of settling them in a month.
The claims were received from Idukki, Wayanad, Alappuzha, Kottayam, Ernakulam, Malappuram and Palakkad districts. They include an interim payment of Rs 16 crore to a hydroelectric project to reinstate affected assets.
A statement from the firm said a team of 30 survey agencies was deployed in the affected areas and surveys were completed in a record time of 48 hours. Post data checks and verifications and a simplified claims process were being carried out with possible relaxations which involved minimal documentation and entitled beneficiaries to avail of special waivers.
“SBI General’s claims team is on the ground to assist policy holders get back to normalcy. We are extending full cooperation in claims settlement by offering waivers and accepting minimal documentation,” said Pushan Mahapatra, managing director and CEO of SBI General Insurance.
SBI General has also effected special deployment of resources, including setting up of claims settlement desks across Kerala. One such desk manned by senior claims managers for commercial and property claims is already operational at the Kochi branch. This desk would fast-track claims settlements up to Rs10 lakh at the local level.