Insurance companies are bracing for large claims on account of Amphan, the cyclone which ravaged West Bengal and Orissa last week. Most of the claims are expected from property, motor and crop insurance sectors.
There could be some respite for insurers with Air India not being eligible for any insurance claims over its damaged hangar at Kolkata airport. However, a private aircraft is reported to have been damaged during the cyclone.
According to sources, insurance companies so far have not received any claims from the aviation sector, including Air India.
The sector is mostly insured by the four public