-  Mumbai Terror Attack

Indian Terrorism Insurance Pool releases first payment for claims of Mumbai Terror Attacks.

The Indian Terrorism Insurance Pool today released the first payment of Rs. 25 crores for the claims arising out of the terror attacks on the iconic Taj Mahal Hotel in Mumbai on 26th of November.

Mr. Yogesh Lohiya, Chairman cum Managing Director of GIC Re, which is the designated administrator for the Indian Terrorism Insurance Pool, handed over the cheque to Mr. R. K. Krishna Kumar, Vice-Chairman of Indian Hotels Company Limited at Bombay House in Mumbai.

The lead cover for the Taj Mahal Palace and Tower, which is owned by the Indian Hotels, is provided by Tata AIG General Insurance Company. However, in claims due to terrorist activities, irrespective of which company issues the policy, the claim is borne by the pool.

The first payment, for the 26 November terror attacks in Mumbai, from the terrorism insurance pool has been made in less than 24 hours of receiving the claims report from Tata AIG.

On this occasion Mr. Lohiya said further claims of the Mumbai terrorist attacks will also be settled in the shortest possible time. We want to show the global community our ability to provide support in such difficult times.

11.12.2008