Chennai flash floods were the largest natural catastrophe in India in 2015, says Swiss Re sigma study
· Number of catastrophic events in India increased to 25 in the year 2015 · Total economic losses almost six times that of insured losses · Many cities - including Delhi - in northern India are vulnerable to earthquakes · Protection gap in India is high by regional and global standards Mumbai, 30 March 2016: According to the latest sigma study by Swiss Re, India’s total economic losses from all disasters, including natural and man-made events exceeded USD 6.2 billion (or 6.8% of worldwide losses) in 2015, down from USD 13.4 billion (11.9% of global losses) in 2014. Total insured losses were USD 1 billion, up from USD 971 million the year before. Based on sigma criteria, there were 25 catastrophic events in India last year, up from 20 in 2014. The severe flash floods in Chennai in November were the largest disaster, causing estimated economic losses of USD 2.2 billion. Insured losses were estimated at around USD 755 million, making t