Insurance claims through the roof
Partly triggered by recent flood damage and an increase in road accidents, claims filed with the six general insurance companies in Cambodia spiked more than 160 per cent in the nine months through to September compared with the same time last year, the latest data show.
Total claims reached $8.5 million, a 167 per cent year-on-year increase, according to the Insurance Association of Cambodia, which released the figures on Tuesday. The sector that generated the most claims by value, or $3.2 million, was engineering, which includes property, irrigation systems and road construction.
In the number two slot was the “motor” sector, encompassing car and motorbike accidents. There, claims amounted to $1.95 million, a 187.7 per cent year-on-year increase. Medical filings represented the third largest chunk, growing 13.7 per cent to $1.87 million in the first nine months.
Of the total, leading general insurance provider Forte paid out more than $2 million as of October. …
Chan Muy Hong
http://www.phnompenhpost.com/business/insurance-claims-through-roof
