Economy, Business And Markets

$15m Flood Compensation

$15m Flood Compensation$15m Flood Compensation

A sum of $15.3 million, the largest insurance claim in Iran’s history, has been given to Tehran Metro Company in damages for a flash flood two years ago, Mahmood Amrollahi, the CEO of Iran Insurance company told IRNA on Monday. On 15 April 2012, following heavy rainfall in Tehran, a break in the channel wall of Kan River led to flooding in the Tehran subway tunnels. Consequently, line 4 of the metro went out of operation for about two weeks. The flood went on for 30 hours with three stations inundated and damage caused to four trains and 28 wagons. It is estimated that approximately one million cubic meters of water and debris washed into the metro tunnels.