Insurers limit liability in port blast as Iran promises fast-track payouts

Iranian insurance firms said they will only compensate victims of port explosion in line with their existing contracts, even as authorities vowed payments within 48 hours for those already identified.

“Each company pays according to its own commitment, not beyond that,” Alborz Insurance CEO Mousa Rezaei told Eqtesad24.

Hormozgan judiciary chief Mojtaba Ghahremani said insurers have been notified of 25 identified fatalities and will disburse payments swiftly. He added that families of unidentified victims would be compensated once identities are confirmed.