In the aftermath of the floods in Jammu &Kashmir in September 2014,the Public Sector General Insurance Companies received 13,909 claims , out of which 13,612 claims have been settled for a total amount of Rs 729.75 Crore. For most of the 297 claims remaining, on account payment has already been made and final settlement is under process.
The Private Sector General Insurance Companies received 34,163 claims , out of which 31,195 claims have been settled for an amount of Rs 1076.12 Crore. Further, a total number of 2684 claims are under process with these companies for an amount of Rs 225.17 Crore for settlement.
The Life Insurance Corporation of India and the Private Sector Life Insurance Companies received 7 and 24 death claims respectively , and all these claims have been settled.