Heavy rains have caused landslides and flash floods in parts of Sri Lanka, Asia Insurance Review reported.
The rains arrived after a period of severe drought.
Catastrophe modeling firm RMS expects risks related to water-related climate variability to intensify.
Nikki Chambers, hazards scientist at RMS, said "flood insurance in this region is given only in combination with windstorm/cyclone cover."
Ms. Chambers added that "industry reports suggest there is take-up of about 20% of this type of cover mainly from industrial and commercial organizations."