News From Press Insurance cover indispensable to deal with natural calamities, says United India CMD

Insurance cover indispensable to deal with natural calamities, says United India CMD

Source: Business Line Aug 29, 2018

Insuring business and property is the best way to deal with the financial losses that arise out of natural calamities like the recent floods in Kerala, said KB Vijay Srinivas, CMD (Joint), United India Insurance, on Tuesday.

Speaking at the Insurance Advisors’ Convention, Srinivas said that of a total loss of Rs. 19,000 crore (approximate), only around Rs. 1,000 crore is estimated to be insured loss, which is less than 10 per cent of the total loss.

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