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Insurance industry estimates Chennai flood claims to hit $756 million

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The Indian insurance industry has estimated that claims from the recent floods in the city of Chennai could hit 50 billion Indian rupees ($756 million) for the financial year 2015-16, Daily Pioneer reported.

Nonlife insurers had received 10,000 claims worth INR 25 billion by mid-December.

United India Insurance Co. Ltd. has received claims of more than INR 6.57 billion.

The New India Assurance Co. Ltd. has received 1,300 claims worth INR 4 billion, an official said.

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