Indonesia:Flood insurance claims expected to be lower this year

Several insurance companies are busy processing claims for losses suffered in floods that occurred at the beginning of this year.

For instance, Asuransi Cakrawala Indonesia (ACPI) has received total claims to date of around IDR3bn ($210,000), which is lower than the IDR20bn received at the beginning of 2020.

Although insurers are still waiting for claims to be lodged, the assessment is that the total disaster claims in early 2021 will not exceed those in 2020.

The executive director of the Indonesian General Insurance Association (AAUI), Mr Dody Achmad Sudiyar Dalimunthe, projects that property insurance claims will be higher than vehicle insurance claims. He said that this was because flooding was widespread in Jakarta including in industrial zones.

Source: Asia Insurance Review