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Member, Beacon International Group, Ltd.
Indian public sector insurers have deployed 279 survey teams in the flood-hit Jammu & Kashmir to assess the damage and loss of properties, Businessworld reported citing an official spokesman.
Insurers have been directed by the state high court to pay 50% of the insured amount for covers above 2.5 million Indian rupees ($40,725) and 95% of the amount for covers below INR 2.5 million ($40,725) as temporary relief to those affected.