India: Insurers prepare for Jammu & Kashmir flood claims

Insurers in India are bracing for claims arising from the Jammu & Kashmir floods that have caused mass destruction in the state, reported The Hindu Business Line.

Maximum claims would arise from the retail lines of business, G Srinivasan, chairman and managing director of New India Assurance Co. Ltd., said. An official at Agricultural Insurance Co. of India Ltd. said the insurer does not expect to see major claims.

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