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Indian insurers expect claims worth over $301 million from recent floods


Indian insurers are expected to receive claims worth over 20 billion Indian rupees ($301 million) from heavy rains and floods in the nation's Tamil Nadu and Andhra Pradesh states, reported The Hindu BusinessLine.

Insurers are anticipating claims from property, automobiles and small and medium enterprises from recent rains as well as the downpours that hit in November. "We have already received claims of around INR 3 billion," said an official at United India Insurance Co. Ltd., adding that the insurer expects more losses from the floods.

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