Flood risks are only partially insured

The climate phenomenon El Nino has triggered heavy losses in the south of India and in Sri Lanka. Torrential rain washed the States of Tamil Nadu and Andhra Pradesh during the months of November and December.

At least 386 people lost their lives while entire regions were devastated. Financial losses are estimated at 3.3 billion USD. Inadequate infrastructures and unplanned constructions are behind this situation. Only, nearly 10% of the financial losses would be insured.