In December, General Insurance Corporation of India (GIC Re), the designated administrator of the terror insurance pool, released Rs 25 crore each to the hotels. So far, Indian Hotels has received Rs 75 crore while Oberoi got Rs 65 crore.
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The total corpus of the pool stands at Rs 1,500 crore as on March 31. “The final claim figure will be arrived at only after the hotels finish their refurbishing process”, said Mr Yogesh Lohiya, Chairman and Managing Director, GIC Re.
“The total claims of both should not exceed Rs 500 crore,” added Mr M. Ramaprasad, General Manager, GIC Re.
The claims arising out of any terrorist activity are paid from the terror insurance pool formed by the general insurance companies in 2001.