Digit Insurance Settles Rs 137 Crore Fire Claim
Digit Insurance, a unicorn general insurance company, has announced that it has fully settled a claim of Rs 137 crore against a major fire that took place at the factory of one of India’s leading product manufacturing companies. chemicals in February of this year.
In its official statement, the insurer said the claim for the fire, which took place at the company’s factory in Gujarat, was settled within nine months.
The accident, which occurred as a result of a devastating explosion followed by a fire in the early hours of February 23, also left workers injured and killed, in addition to property damage. Given the magnitude of the loss, Digit released Rs 25 crore to the injured party within 22 days, followed by Rs 20 crore on June 14, 2021. To speed up the claims process, the insurer has formed a dedicated team to speed up settlement discussions. The remaining Rs 92 crore was released by Digital insurance November 30, 2021.
Vivek Chaturvedi, Director of Marketing, Digital Assurance, said: “A loss of this degree breaks people’s morale and has a lasting impact on the business. The least we could do as an insurer was to minimize loss and suffering by settling the claim as early as possible. Empathy on the part of the insurer becomes very important in such circumstances and we are pleased that a prompt response from our dedicated team has helped to resolve the claim in a transparent manner.
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“We are happy to have partnered with Digit. We thank their entire team who helped us in these difficult times and resolved our claim quickly. This will help us restart our operations smoothly, ”said the injured company, which purchased the Digit Industrial Mega Risk insurance policy in July 2020.