Industries yet to recover from Thane

PUDUCHERRY: The chairman of Confederation of Indian Industries (CII), Puducherry, K S Shetty, said that the industries in the region were hit hard by cyclone Thane. They incurred huge losses i

Published: 12th May 2012 12:06 AM  |   Last Updated: 02nd June 2012 10:21 PM   |  A+A-

PUDUCHERRY: The chairman of Confederation of Indian Industries (CII), Puducherry, K S Shetty, said that the industries in the region were hit hard by cyclone Thane. They incurred huge losses in its aftermath and were yet to recover from it.

In his inaugural address at a workshop on ‘Insurance and Risk Management’, he said most industries still suffered because of the loss of man days thus incurring production losses while rebuilding.

J Girikumar, admin officer, Fire and Engineering Department, United India Insurance, Chennai Regional Office, and Ajay Panchal, assistant vice president, Risk Management Services, Future Generali, Mumbai, addressed the representatives of the industries.

Speakers at the workshop felt that introduction of brokers in the Indian insurance industry in the liberalised scenario was another significant development.

They said that the brokers acted as representatives of policy holders although they were paid by the insurers.

“They are expected to bring better service to the clients in several areas. Although the agent is expected to render most of these services, for several reasons this has not been achieved in the Indian context,” they said and added that the brokers were expected to deliver these services to the client in a more objective manner.

Vasudev Iyengar, divisional manager, Fire and Engineering Dept, United India Insurance, and Girikumar made detailed presentations.

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