MUSCAT: A total value of more than OMR 62 million has been registered as compensation and claim settlements by the insurance companies for those affected by tropical cyclone Shaheen in the country, Oman’s Capital Market Authority has confirmed on Tuesday.

In a statement issued by the Oman News Agency said more than 9,800 claims from various governorates were registered by the insurance firms. “The Capital Market Authority has confirmed that the volume of compensation and claims settlement for insurance companies for those affected by the tropical situation Shaheen amounted to about OMR 62.37 million through the registration of more than 9,800 claims from a number of affected states in the governorates of Muscat, North and South Al Batinah,” ONA said.

CMA clarified that about OMR 51.7 million is still under settlement, while insurance companies have paid about OMR 10.6 million to make up for other damages. The authority also confirmed that most of the claims submitted to insurance companies have been accepted for all those affected by the tropical situation who hold insurance policies that cover the risks of natural disasters, whether to insure vehicles, property, transportation and other various insurance coverages.