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Water risk is among the four major risks to companies in the 21st century, experts said at the World Economic Forum.
A separate survey by the Carbon Disclosure Project found 53% of companies reporting that water risks are starting to affect them, Business Day reported.
Regions such as North India and Central Europe recently faced its worst rains in years.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees