Mumbai, November 22: General Insurance Corporation, the designated administrator of the terror insurance pool, has released Rs 167 crore to Taj and Oberoi hotels in connection with the 26/11 terror attacks, a top GIC Re official said.
“We have released Rs 167 crore to both hotels (Taj and Oberoi) till now. The renovation work is on…and we are waiting for the final report (to settle the final claim),” GIC Re’s Chairman and Managing Director, Yogesh Lohiya, told reporters here today.
General Insurance or non life insurance companies had formed a terror insurance pool in 2001 to pay the claims arising out of terrorist activities.
Of the Rs 167 crore given to the two hotels, GIC Re had released the first insurance instalment of Rs 25 crore to each of the two hotels in December last year.
-PTI