Bangladesh: Insurers refuse to pay collapsed garment factories citing faulty building
Posted On: May. 3, 2013 12:00 AM CSTInsurers have said that five garment factories which operated in the now collapsed Rana Plaza cannot file claims as the building that housed these factories was faulty, The Daily Star reported.
New Wave Bottoms Ltd. and New Wave Style Ltd., two of the five factories were covered for fire and marine incidents with Green Delta Insurance Co. Ltd. However, as their policies did not cover building collapse, they could not get the 140 – 150 million Bangladeshi takas ($176,460 - 189,000) claims amount, officials said.