Kathmandu. Zurich General Insurance (China) has paid about Rs 2.75 billion in damages under its commercial liability insurance policy in a case related to faulty remote control in the UNITED States. Zurich China paid $19.78 million (Rs 2.70 billion) in damages in the case.
The case began in April 2023. In July 2022, a six-year-old boy in the United States developed stomach problems after swallowing the battery of an exported air conditioner remote. The boy’s family had filed a lawsuit against the battery manufacturer, seeking $125.2 million in damages. Zurich is the insurer of the Chinese company.
After reviewing the case and consulting with clients and their legal team, Zurich China supported the defendant’s strategy. The two sides agreed to settle the case for $40 million to avoid the risk of a large jury verdict.
Zurich then confirmed that the insurance claim is covered under the policy. On June 18, Zurich China paid $19.78 million to the insurance coverage limit. Now the case is closed. – Agency
