Oil firm's insurance premium nearly doubles after large claims

Posted On: May. 21, 2019 7:18 AM CST

Bharat Petroleum Corp. Ltd. said that its insurance premium nearly doubled to 1.3 billion Indian rupees ($19 million) for the financial year ending March 31, 2020 after the company filed claims totaling INR 6 billion for fire-related damage, Deccan Chronicle reported. Bharat Petroleum made an INR 4.5-billion claim related to a fire at its refinery in Mumbai in August 2018 and an INR 700-million claim for another fire at its plant in Bina.