$3.9m Insurance Payout for Petrochem Fire

EghtesadOnline: Iran Insurance Company, the state-owned insurer, has paid 148 billion rials ($3.9 million) in claims for the blaze that ravaged the warehouse of Bandar Imam Petrochemical Complex, IIC’s official website reported.

News ID: ۷۷۸۲۰۹

06 August 2017

The fire in a section of the complex’s warehouse –used for the storage of synthetic rubber products–broke out on August 6, 2016. It took firefighters five hour to contain the blaze.Noting the recent payout of €94 million ($111.2 million) –the highest amount paid by a domestic insurer–for Bou Ali Sina Petrochemical Complex’s blaze that occurred last July, Mohammad Rezaei, IIC’s fire insurance manager, said despite the sanctions imposed on the country, the Iranian insurance industry has been able to offer appropriate coverage for major industries and national resources, with IIC playing a leading role, Financial Tribune reported.