Advertisement

Lebanon Insurance Claim For Beirut Blast Totals A Whooping $425 Million ! Read Full Analysis Here.

Lebanon Insurance Claim For Beirut Blast: On 4 August 2020, two big blasts have happened at the port of the Beirut city. The first explosion was not so much power and then the second explosion is too big which has destroyed the port and the surroundings. Because of that explosion, about 6000 people have got injured and 177 has lost their lives.

Advertising
Advertising

The Lebanon Blast explosion so big which has cause property damage of about $10-15 billion. About 300000 people have lost their homes. This explosion is so big and strong which is audible from 250kms (Cyprus) away from the city. A US Geological survey state that this explosion was like an earthquake. It is of 3.3 magnitudes which were felt in Syria, Turkey, Isreal, and some parts of Europe.

Advertisement

How does this happen?

It is a serious case of mishandling about 2750 tonnes of ammonium nitrate which kept the Lebanese Government on the ship named MV Rhosus and then it is stored on the port without any safety measure. This ammonium nitrate has accidentally exposed to the fire which causes massive destruction in the city.

Advertisement

After this tragedy, the Government has declared an emergency in the state for 2 weeks. In the heat of the moment, the people of the city gathered and make a protest against the government for the mishandling of the ammonium nitrate. Prime Minister Hassan Diab and the Lebanese cabinet resigned because of the pressure which is increasing day by day by the people.

Recovery of the nation

The Lebanese government has filed insurance claims of the huge amount which is about $425 million. This amount is usually because the destruction in the city was too big about 6000 people to have lost homes and their sources of livelihood too.

So, now there is only one option left to run their life. Raoul Nehme (Economy Minister) states that there are 2500 claims that have been filed yet. they also expect the number of claims will reach 10000 at the end of this month. He has also met the president regarding the matter of insurance claims.

Also, read Nirmala Sitharaman says taxpayers deserve better services