Insurers inundated with flood-related claims<\/p>\n
Fitri Wulandari, The Jakarta Post, Jakarta<\/p>\n
Realizing the pains inflicted by the recent flooding, some
\ninsurance companies have vowed to settle claims quickly.<\/p>\n
However, at least one person was disappointed at the rejection
\nof his claim by an insurance firm which insisted properties were
\nnot covered against flooding despite an \"all risk\" clause in his
\npolicy.<\/p>\n
PT Asuransi Wahana Tata, one of the insurance firms which has
\npromised to settle quickly, said it would focus on processing
\nclaims from retailers.<\/p>\n
\"We give priority on settling flood-related claims from
\nretailers so that they can fix their properties immediately,\"
\ncompany director for claims, survey and underwriting Maria
\nTheresia Ratnawati told The Jakarta Post over the weekend.<\/p>\n
PT Asuransi Bintang operations director Arizal E.R said it had
\neven paid down payments to its clients while it finished
\nassessing the claims.<\/p>\n
\"We will start giving a 25 percent down payment for our retail
\nclients next Wednesday,\" he said, adding his company had received
\na total of 105 claims from the commercial industry, house owners,
\nand vehicle owners.<\/p>\n
Claims for house owners range from Rp 50 million to Rp 60
\nmillion (between US$4,873 and $5,847), he said.<\/p>\n
The insurance companies have apparently made all necessary
\narrangements to speed up the settlement process.<\/p>\n
Some insurance firms sent surveyors who were authorized not
\nonly to asses and calculate damages, but also to settle claim
\npayments on the spot.<\/p>\n
PT Asuransi Allianz Utama Indonesia claim manager Wiyono
\nSutioso said that all flood-related claims from retailers were
\nsettled on the same day that surveyors came to asses the losses.<\/p>\n
Similar procedures also applied in PT Asuransi Bintang.<\/p>\n
\"It's our way to speed things up for the flood victims,\"
\nArizal said.<\/p>\n
Wiyono said that for vehicle claims its clients could go to
\nan auto repair shops appointed by Allianz.<\/p>\n
\"The auto repairers will send us the claims as soon as they
\nfinish repairing the vehicles,\" he said.<\/p>\n
Maria said that the time needed to process the claims depended
\non how quickly clients provided a list of losses.<\/p>\n
\"We encourage our clients not to delay completing the list of
\nlosses so that claims can be settled quickly,\" she said.<\/p>\n
The settlement process for industrial sector claims could take
\nlonger compared to the process for claims from house and vehicle
\nowners given the higher value of the former's properties.<\/p>\n
Maria said many insurance companies normally picked a loss
\nadjuster company to asses losses from the industrial sector.<\/p>\n
\"It is difficult to asses damages at the industrial
\nproperties, especially factories because there is a lot of
\nequipment to check and so on.\"<\/p>\n
Maria said it had received 13 claims from industrial customers
\nand ten claims from house owners.<\/p>\n
A flood-victims expressed disappointed when he was told his
\ninsurance did not cover floods and could not submit a claim.<\/p>\n
The man, who refused to be identified, said he had filed a
\nclaim with an insurance firm for his car, which was submerged for
\nthree days during the flooding.<\/p>\n
However, the company rejected the claim, saying it was not
\ninsured for flooding despite the \"all risk\" clause on its policy.<\/p>\n
\"The company has never explained that the 'all risk' clause
\ndoes not cover flood. This is against business ethics. They seek
\nto profit from people's ignorance,\" he said.<\/p>\n
Others had no difficulties in having their claims settled.<\/p>\n
Gobind, 50, a resident of Kemayoran, Central Jakarta, whose
\nhouse was inundated with 65-centimeter deep floodwaters, said
\nthat he had no problems settling his claim.<\/p>\n
\"I think it depends on how good your relations are with your
\ninsurance company,\" he said.<\/p>\n
Gobind said his insurance company sent a surveyor to his house
\ntwo days after he submitted his claims.<\/p>\n
Although he has yet to submit a list of losses, he believe the
\nsettlement process would be quick.<\/p>\n
\"From my experience, I will get the payment in less than a
\nweek,\" Gobind said. This was the second time he had submitted
\nflood-related claims.<\/p>\n
He said that he did not worry that his insurance company would
\nnot pay his claims. \"All insurance companies are backed up by
\nreinsurance companies, so I am not worried,\" he added.<\/p>",
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