February 15, 2017

Breaking News

IKBZ finalises compensation to bus crash victims

An official from IKBZ hands over compensation to injured passenger. Photo: KBZ
An official from IKBZ hands over compensation to injured passenger. Photo: KBZ

International Kanbawza Insurance Company (IKBZ Insurance) paid K38.59 million (US$30,000) on 5 October as a second and final installment of compensation to 16 injured passengers of Shweli Oo express bus which crashed on the Yangon-Mandalay express highway on 10 August.
The compensation varied according to the severity of the passengers’ injuries. The next of kin of passengers who died in the accident received K3 million ($2,366) each. The injured passengers were promptly given an initial sum of K100,000 each at Phu and Nay Pyi Taw hospitals and Yangon, which came to a combined total of K32.3 million.
The compensation payments were presented by IKBZ’s Vice-Chairman U Nyo Myint. IKBZ Insurance provides a variety of insurance packages, including travel insurance, fire insurance, health insurance and car insurance. The company has 14 branch offices across the country and more than 500 employees.

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