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Source:- IIPM Editorial
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Non-life insurance companies are expected to shell out as much as Rs 500 crores for the losses in Surat. Insurance companies are trying their best to have everything in place in order to deal with the situation in a better way. IFFCO TOKIO a leading insurance firm had this to say about the Surat floods: “We have a dedicated claims team and a devoted customer service centre in Vadodra, which is backed by robust IT infrastructure that is strong enough to handle large volumes of documents. All IFFCO branches and distributors being networked, enables a detailed, accurate and speedy settlement of claims, helping IFFCO achieve above 90% claim settlement ratio on an average.”
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Source:- IIPM Editorial
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The revenue earned through sale and usage of oil is being used to grow industries like food processing and manufacturing of construction materials, textiles, chemicals and automobiles. Of late, these industries are turning into booming sectors for the country. With Latin American economies going strong, Venezuela, which is the strongest economy of South America, is definitely expected to grow and diversify. On the exports front, Venezuela is the largest foreign exporter of oil to the US, besides having other trading partners like Germany, Japan & Netherlands. While petroleum, aluminium, steel, chemical products, iron ore, plastics, cement & paper products are major export items, machinery & transport equipment, manufactured goods and construction materials are major items of import. Being a partner in Mercusor (trading bloc of Latin America), Venezuelan exports can be expected to head further north.
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Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
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