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Insurance industry officials have said that Indian nonlife insurers are bracing for heavy flood claim intimations following the recent heavy rains in the country's Tamil Nadu state, reported Business Standard citing Indo-Asian News Service.
"We have got around 17 claim intimations," a United India Insurance Co. Ltd. official said, adding that "five of them for a value of around 100 million Indian rupees ($1.5 million)."
Officials said that the majority of the claims will be under the fire insurance policy.