INDONESIAN INSURERS PUT INITIAL LOSS ESTIMATE AT 17TN RUPIAH

Claims as a result of the devastation that hit the coast of Aceh and Sumatra on December 26 could cost Indonesian insurers upward of 16.8tn rupiah, according to the chairman of Indonesia’s General Insurance Association AAUI. Quoted in Bisnis Indonesia , Frans Sahusilawane said that the vast majority of these claims would relate to the more developed North Sumatra, where policyholders included state telecoms company Telekomunikasi Indonesia, plus major fertilizer plants Asean Aceh and Iskandar Muda, as well as pulp and paper mill Toba Pulp Lestari.