| Sri Lanka Insurance pays 1st Tsunami Motor Claim |
 |
 SLI consultant Motor Suren Galapoda hands over first tsunami motor claim cheque for Rs. 2.7 million to SEC director Finance and Administration Mrs. Ayanthi Jayaratne. Industry giant Sri Lanka Insurance (SLI) has become the first to honour a motor claim from the recent Tsunami disaster. The first claim amounting to Rs. 2.7 Million on account of the wrecked brand new vehicle of Securities and Exchange Commission (SEC) Director General Palitha Silva Gunawardena was paid yesterday. Mr. Gunawardena and his wife died after the devastating Tsunami destroyed their holiday accommodation in Yala. The SEC driver survived though suffering serious injuries. The SEC policy had flood cover. SLI said that the company was the first to send out assessment teams to the affected areas deep in the south of the country. These teams of qualified motor engineers equipped with sophisticated communications facilities covered affected areas from Dehiwela up to Yala, building information data bases of damaged vehicles. SLI Chairman Harry Jayawardena told the daily FT yesterday that the Company originally took the decision to help all its customers who could be victims of the unprecedented natural disaster soon after it occurred on December 26th. "People mainly come to an insurance company to protect themselves when there is a disaster. None ever imagined the kind of Tsunami tragedy. As a responsible and strong organization we have to help our customers in their darkest hour", he added. |
The highly
influential Mr. Jayawardena also came down hard on alleged moves
by some others in the insurance industry to tax the government's
Strike, Riot and Civil Commotion Fund, when settling motor claims.
"I don't think it is ethical to tax the Government which has a bigger
burden of rebuilding the country and helping the poor people. Even
at a crisis time the Government should not be helping insurers who
had not pursued prudent practices and standards. The SRCCF is for
a specific purpose and it must not be taxed for something else.
We must be prepared for any calamity. We also need effective and
strong regulations of the insurance industry," Mr. Jayawardena said.
He was of the view that some firms were writing policies at unsustainably
low rates risking the future and the goodwill of the industry at
a time of crisis. |