Chennai deluge: Bajaj Allianz settles 98 pc of motor claims

Bajaj Allianz General Insurance today said it has settled 98 per cent of motor claims worth Rs 110 crore reported post the floods in Chennai.

The leading private sector insurance company has settled over 5,300 motor claims with an average claim size of Rs 1.74 lakh which is on account of higher density of high-end vehicles in Chennai, which was hit by unprecedented floods late last year.

"As most of the vehicles were completely submerged under water for more than three days, majority of the claims were pertaining to corrosion of the vehicle parts due to delay in attending the vehicles for repair," Bajaj Allianz said in a statement.
 

Besides, claims were on account of damage to electrical fittings, engine seizure and cleaning of engine or other parts of the vehicle due to water and mud deposits, among others.

"We not only streamlined our claim settlement procedures, but also reached out to our customers at their doorsteps to offer them a speedy claim settlement experience," Bajaj Allianz General Insurance Chief Executive and MD Tapan Singhel said.