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 sever...