Deves offers alternative policies
Deves Insurance Plc has offered alternative insurance policies to its clients as foreign re-insurers have refused to cover four risks in 2012 - flood, earthquake, storm and hailstorm.
Chatchai Chinvetkitvanit, director and executive vice president of the insurance company, said that due to refusal from re-insurers, Deves offered alternative insurance policies which demand 5-10 per cent of coverage as insurance premiums.
"Insurance claim payments have been partly made," he said. While the company is assessing damage at large-sized clients' manufacturing sites, the interim payment was made to relieve their burden. He added that the process could be quickened if the insurers can quickly provide necessary information like the estimates of machinery maintenance or replacement cost.
"Though the interim payment could not be given to all clients, we will do our best in helping clients," he said.
The company prepares a survey team to estimate damage on vehicles and other assets. Of over 700 damaged vehicles, it has been found that 55 were totally damaged.
