Bus burning: Insured loss minimum Rs 10 crore

CHENNAI: The burning of private buses in the Bengaluru riots will result in a minimum insured loss of 10 crore, but it could be much higher, said officials of

United India

Insurance, which insures

KPN Travels

and two other private transporters affected by riots.

"We have not yet sent our surveyors out on the field, as section 144 has been imposed. In another two days, we ought to have a better idea as to the loss," said United India officials. As to the few state-owned buses of the Tamil Nadu transport corporations that were burnt, they are covered under the state-run insurance funds. Since the insurance pool is inadequately funded, the loss is likely to be borne in entirety by SETC.

After losing 42 buses, valued at 12 crore, KPN Travels owner

K P Natarajan

said, " If the government ensures there will be no more incidents of violence, we will come forward and continue our services." Neither of the states have approached him for compensation and assistance, he said. adding that apart from the buses, the workshop in which they were parked was also damaged. "The insurance company says we could get up to 60% of the bus's value. We will try replacing the buses in 40 days," he added.

The president of Tamil Nadu Omni Bus Owners Association A Afsal said while buses have always been the target of vandalism and violence, this has been the ugliest he has seen so far. "Usually, windshields get broken. Given the circumstances, however, the police have been proactive," he said.

All bus service services have been shut down from Sunday. "We will resume once we get assurance from the police," he added.