Insurance companies in Sri Lanka have begun compensating individuals and businesses affected by Cyclone Ditwah, the Ministry of Finance announced.
Secretary to the Ministry of Finance, Planning and Economic Development, Dr. Harshana Suriyapperuma, said the Insurance Regulatory Commission of Sri Lanka had recently convened a meeting with the heads of all insurance companies to establish a mechanism to fast-track payments.
He said insurers have already started providing compensation for damaged businesses, property and loss of life caused by the disaster. Payments for minor property damage have already been issued, while assessments are underway for larger claims.
According to insurance company representatives, compensation for extensive property damage will be paid once necessary documentation and verification processes are completed. They added that, where possible, a portion of the payment will be released immediately to support affected households and businesses. (Newswire)