Insurers stare at massive claims from Delhi and north India

MUMBAI: Insurers companies are bracing for a large number of claims from Delhi and parts of Northern India affected by floods and landslides. Claims have begun trickling in for damaged cars and properties as floodwaters started receding in Delhi on Friday.

Similarly, while floods and landslides continue to batter the hill states of Himachal Pradesh and Uttarakhand, insurers have begun receiving claims from road projects, godowns, factories and Small and Medium Enterprises (SMEs).

State-owned United India Insurance said that it has received claims worth Rs 35 crore from Himachal Pradesh so far and is expecting a large number of motor and home insurance claims from Delhi.

Private non-life insurer Iffco Tokio General Insurance has since yesterday afternoon received more than 20 motor claims from Delhi, over 50 motor claims and 90 property claims from Himachal Pradesh and Uttarakhand. HDFC Ergo General Insurance has received 70 claims to date from Delhi, Punjab and Himachal Pradesh.

A senior official of United India Insurance said, "These regions still continue to be under water so claim intimations will come once life normalises and water recedes. In Himachal Pradesh, we have received three claims from roads that have been washed away and from factories, godowns and manufacturing units to the tune of Rs 35 crore. Retail claims such as motor will come once water recedes but we do anticipate quite a lot of claims."

"Similarly we do expect a huge number of claims from motor, homes and godowns from Delhi as the region is more insurance aware and also affluent," added the United India official.

Says Anand Pejawar, Deputy Managing Director at SBI General Insurance, "Water has started receding today in Delhi. We may expect claims from today afternoon and tomorrow."

"In Himachal Pradesh as of yesterday, about 20 claims were reported from shops, warehouses, and residences," Pejawar said.

Harsh Agrawal, Executive vice-president IFFCO-Tokio General Insurance said, "We are expecting a good number of claims from Delhi as going by the news footage the adjoining areas of Yamuna Bank are heavily affected. Since yesterday we have received 20 odd motor claims from Delhi."

"From Uttarakhand and Himachal Pradesh we have received 90 property claims and more than 50 motor claims," added Agrawal.

HDFC Ergo General Insurance said, "So far from all parts of the country we have received 70 claims which are largely motor."