Home / Front Page/ NITF pays over Rs. 145 m for disaster relief

NITF pays over Rs. 145 m for disaster relief


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 24 May 2016 00:00

Facebook

 

The National Insurance Trust Fund (NITF) has already paid over Rs. 145 million to the Ministry of Disaster Management to cover the costs of providing emergency relief measures to over 400,000 people displaced by the recent floods and landslides.

NITF Chairman Manjula de Silva said these payments were made in accordance with the National Natural Disaster and Emergency Relief Insurance scheme launched in April this year. NITF is also geared to meet the costs of rebuilding and repairing houses and small business premises affected by the floods and landslides. 

“Our objective is to take care of the uninsured while the insurers look after those who have obtained insurance policies,” added NITF Chief Executive Officer Sanath C. de Silva.

This insurance scheme provides an aggregate cover of Rs. 10 billion for a year with the backing of some of the world’s largest reinsurance companies. “NITF is also expecting large claims on its portion of compulsory reinsurance provided to other insurance companies. Due to our financial strength and the backing of international reinsurers, we will not have a problem meeting those claims,” explained Chairman de Silva.

National Insurance Trust Fund (NITF) Sri Lanka’s national reinsurer and provider of specialised insurance services operates under the Ministry of National Policies and Economic Affairs.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Timely measures are necessary to save the local industries

Thursday, 20 June 2019

The security situation in the country is gradually improving since the Easter Sunday bombing which brought social life and economic commitments to a standstill. The day-to-day life is getting back to normalcy. International travel adversaries have be


Disinformation is bad; wilful disinformation is worse

Thursday, 20 June 2019

Seya Sadewmi was a five-year-old girl who was abducted, raped and murdered. The body of this little girl, missing from her home for a little more than a day was found near a canal 200 m away. An autopsy revealed that Sadewmi had been sexually assault


A day in the life of a democracy

Thursday, 20 June 2019

When you listen to the news and observe views from the country of the mother of all parliaments, it is quite interesting, and I dare say there is so much to learn from it. I am not in any way referring to pursue subservient veneration nor behavioural


Sri Lankan companies: Be brilliant on basics

Thursday, 20 June 2019

The $ 87 billion Sri Lanka economy is registered a 3.5% GDP growth in Q1 2019 in the backdrop of South Asian growing at 6% which explains how far away we are in relation to our neighbouring countries – India, Pakistan and Bangladesh. I guess the Q2


Columnists More