Flash floods in Chennai last November caused economic losses of $2.2 billion...

The flash floods in Chennai last November were the largest disaster, causing estimated economic losses of $ 2.2 billion, according to the latest sigma study by Swiss Re. India's total economic losses from all disasters, including natural and man-made events exceeded $6.2 billion (or 6.8 per cent of worldwide losses) in 2015

The study said insured losses were estimated at around $755 million, making these floods the second costliest insurance event in India on sigma records.

According to the study, India's total economic losses from all disasters, including natural and man-made events exceeded $6.2 billion (or 6.8 per cent of worldwide losses) in 2015, down from $13.4 billion (11.9 per cent of global losses) in 2014.

 Total insured losses were $1 billion, up from $971 million the year before. Based on sigma criteria, there were 25 catastrophic events in India last year, up from 20 in 2014. Full story...

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