• Insurance companies ready to compensate losses caused by Cyclone Ditwah

The Secretary to the Ministry of Finance, Planning and Economic Development, Dr Harshana Suriyapperuma, stated that Rs. 1,893 million has been received in financial assistance from domestic contributors, Sri Lankans living overseas and various organisations, for the ‘Rebuilding Sri Lanka’ initiative launched to rebuild the country following the devastation caused by Cyclone Ditwah. He added that the Insurance Regulatory Commission of Sri Lanka recently convened a meeting attended by the heads of all insurance companies to formulate a mechanism for compensating affected businesses and property owners. According to Dr Suriyapperuma, all insurance companies have already begun the process of providing prompt compensation for damaged businesses, property and loss of life resulting from the cyclone. Under the programme, compensation payments for minor property damage have already commenced. Insurance company representatives further stated that compensation for extensive property damage will be paid following the collection and verification of the required information. They also noted that, where possible, a portion of the payment will be released immediately.