Insurance firm orders risk assessment survey of properties

Kolkata, Dec 16 (IANS) In the wake of a devastating fire at the AMRI Hospital which claimed 93 lives a week ago, the National Insurance Company (NIC) Friday said it has ordered a risk assessment survey of properties insured for over Rs.1 billion to seek out users violating agreements with the insurance major.

'We have ordered our surveyors to carry out a risk assessment of properties that have an insurance cover of over Rs.100 crore and seek out all those who have either misrepresented facts or have flouted agreements with us,' NIC chairman and managing director N.S. Chandra Prasad told reporters on the sidelines of an event organised by the Insurance Brokers Association of India (IBAI) here.

Prasad said the survey was expected to be completed within another two months time. After that the NIC would look into other properties having an insurance cover ranging between Rs.0.5 billion to Rs.1 billion.

He said the Kolkata-headquartered insurance major will initially serve a notice alerting the alleged offenders.

'We will initially serve a notice alerting the offenders of the alleged violations. In case they fail to clear up the violations, we might take the extreme step of cancelling their insurance cover,' he said.

He informed that the NIC has already ordered a 're-look' into all other AMRI facilities in the city which are covered by the insurance company.

'The AMRI group has an insurance cover of Rs.200 crore with us,' he said.

Stating that the insurance major was awaiting the preliminary report of the surveyors to see if there was any alleged violation in AMRI's Dhakuria unit, he said: 'The risk assessment for other AMRI facilities will also be carried out under the present orders.'