Magazine date:
Jul 2023 
Torrential rains swept across several states in northern India on 9 July 2023, triggering devastating floods and landslides.
The provisional death toll stands at 100, while several hundred people are still stranded. The natural disaster also caused damage to residential properties and to the infrastructure.
Initial estimates provided by the State Bank of India (SBI) suggest that the economic losses caused by the recent floods could range from 100 to 150 billion INR (1.2 to 1.8 billion USD).
In a bid to support the victims, the Indian regulatory authority (IRDAI) has called on all non-life insurance companies and Stand-Alone Health Insurers to speed up the claims settlement process.