According to IEI, the claim was paid to cushion the loss suffered by the company from high tunnel load temperature defects with both units GTI and GT2. The money was paid to the Sapele- based power holding company particularly in respect of the generator circuit breaker for the units.
The account was led by IEI as the lead insurer and was co-insured by other insurance firms in the country.
According to a statement by IEI spokesman Kiri Tamuna, the account is a co-insurance business that IEI leads.
He said: “McLaren and Rimcus Consulting Limited were involved to adjust the claim on behalf of the co-insurers with the local adjuster (Grand Metropolitan Associates Limited).
Tamuna said the prompt payment of the claim is to attest to the fact that IEI puts priority in fulfilling its obligations to customers.