Wahana Tata Ready to Pay Lafarge’s Claim

Wahana Tata Ready to Pay Lafarge’s Claim
13 October 2005

PT Asuransi Wahana Tata promised to pay the insurance claim of PT Semen Andalas Indonesia following the conclusion of loss assessment by independent loss adjuster.  Robert Jeremia, the President Director of PT Wahana Tata, said that until today the company was still waiting for the loss assessment on the cement manufacturing plant of Lafarge Group severely hit by tsunami disaster at the end of last year.  

"The claim of Lafarge is still waiting for the assessment of loss adjuster. But the adjuster will conclude the assessment soon," he told Bisnis Indonesia in Jakarta yesterday. Wahana Tata employs Insight Adjuster and Surveyors Pte Ltd of Singapore to assess the losses of the cement manufacturing plants. The reinsurance protection of the coverage, meanwhile, has been placed at PT MAI PARK Indonesia and XL Insurance Company of the Switzerland.   "We hope that Semen Andalas will renew its insurance protection with us," he said.  

Wahana Tata has paid interim payment of Euro 25m out of possible claim of Euro 50m. The payment of the claim was on August 10 during a ceremony attended by Aburizal Bakrie, the Senior Economic Minister of the country.   Thomas Ehrhart, the President Director of PT Semen Andalas Indonesia, said that the company did not expect that the claim process was that fast. But he said that the claim would help the company to redevelop its cement manufacturing plant in Lhok Nga, the west coast of Aceh.  "We want to keep operating in Indonesia. Hopefully on June 2007 we will be on full operation," he said.   The company, with 650 workers, has reportedly suffered from the total losses of US$90m due to the tsunami disaster. 

Published under Cement News