Myanmar Insurance Company has paid out over Ks.4.5 billion in fire and earthquake insurance compensation for the damage and losses caused by the Mandalay earthquake.
This amount covers over fifty confirmed insurance compensation claims for earthquake and fire damage.
It has been discovered that the compensation of Ks. 4.680 billion was paid by Myanma Insurance Company to those who filed claims from Yangon, Mandalay, Meiktila, Kyaukse, Nay Pyi Taw, and Sagaing. So far, over 500 insurance claims have been filed so far for damages and losses brought on by the Mandalay earthquake.
To ensure that the filed claims are paid as quickly as possible, Myanma Insurance Company has established a compensation verification team. According to reports, the General Administration Department, Fire Department, Department of Meteorology and Hydrology, City Development Committee, and Myanma Insurance make up the compensation verification team, which is tasked with conducting a comprehensive investigation and disbursing compensation within five days.