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Homeowners affected by the recent blaze at the Torch Tower could be in line to receive advance payments.
This was confirmed in a statement by the tower’s insurer, Oman Insurance Company, that ‘subject to certain conditions’, it is considering such a move to ease the owners’ financial hardship.
An indicative 81 out of 676 units are potentially unfit for habitation pending official confirmation by the Dubai Authorities, the insurer added in the statement. The fire took place on February 21.
The interim relief will start for an initial three-month period on submission of appropriate documentation. “For alternate accommodation, we are requesting owners to provide the Loss Adjuster team with their title deed, passport and visa copy, the new accommodation tenancy contract and proof they paid for it,” said Balaji Ganapathy, senior vice-president and Head of Non-Motor Claims at OIC.
“For the loss of rental Income, we will need the title deed, passport and visa copy of both owner and tenant, a copy of the original Torch Tower tenancy contract, and proof they reimbursed the tenant part of his/her rent. Any calculation of loss will be calculated on a pro rata basis and the covers will cease as soon as the apartments become both habitable and accessible.”
Source: Staff Report, gulfnews.com