Insurance Corporation has paid a claim of above 16.8million birr.
Ato Netsanet Lemessa handing over the cheque
On the claim settlement ceremony, Ato Netsanet Lemessa, Acting Chief Executive Officer of Ethiopian Insurance Corporation said that the claim is such a large amount and it witnesses that EIC is always the reliable partner and it will also continue to be in the future.
According to the Acting CEO, settling this claim on time will enable the factory to come back to its previous status and to save its employees from being jobless which in tu assures the continuity of its contribution in the growth of the country%u2019s economy.
The owners of the factory have also expressed their happiness for the reason that they never expected to get such a large amount of money timely.
They have also expressed that EIC is truly the reliable partner and promised to buy other different types of cover that are necessary for their newly established companies and other projects when they will go operational.
MM Bedding industries plc is found in Oromia region Holeta town and the factory produces foam mattresses, spring mattresses and other bedding and sitting products.
According to the officials from the plc, the fire was caused by heat inside the factory and the fire consumed all the production room with all its contents and all machineries inside the warehouse. In addition to that raw materials, different spare parts in the warehouse have been destroyed totally.
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