Tuesday, September 11, 2018

Kerala floods: Cochin airport files insurance claims worth Rs 3.4 bn

Mumbai/Kolkata: Cochin International Airport Ltd (CIAL) and the Airports Authority of India (AAI) have filed claims totalling Rs 3.36 billion with New India Assurance (NIA) general insurance company owing to the damage caused by the recent floods in the state, said a senior official of CIAL.
Speaking to Business Standard, a senior executive of NIA confirmed the development and said that the insurance company is assessing damage to the airport’s assets.
The insurer expects to pay out a little over Rs 2 billion towards the claim. However, this is a preliminary estimate as the investigations are only in an early stage.
CIAL had shut operations for 14 days from August 15 as many assets of the airport were submerged under water and found to be destroyed.
11/09/18 Advait Rao Palepu & Namrata Acharya/Business Standard