FM convenes insurers meet following flood

Mumbai, Aug 3 | Updated: Aug 4 2005, 06:04am hrs
P Chidambaram, union finance minister has convened a high level meeting of chiefs state owned insurers and Insurance Regulatory & Development Authority on Thursday to take stock of their preparation to meet the challenges thrown by the largest amount of insurance claims out of Mumbai flooding.

However the fm has not included the domestic private sector general insurers who have also received a large chunk of claims.

Out of the total claims worth over Rs 2000 crore, private sector general insurance companies shares will be over Rs 1000 crore.