Insured loss estimate from India monsoon tops $140M: Aon
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An insured loss estimate from historic monsoon rainfall in India topped $140 million as typhoons battered Asia, according to a report released Friday by Aon P.L.C.’s Impact Forecasting unit.
India’s Kerala state has been hit by “the worst monsoonal flooding in the region in more than a century,” according to the report.
Damage reports include more than 2 million acres of inundated cropland and infrastructure, the report said, including nearly 2,800 miles of roadway segments and 134 bridges washed away or damaged.
One preliminary insurance industry report from India suggested insured losses could approach $143 million while total economic losses in Kerala were “tentatively” estimated at $3 billion, the report said.
From June 1 to Aug. 22, Kerala has received 92.4 inches of rain, 41% more than the normal rainfall for the state, the report said.
Four tropical cyclones made landfall across the Western Pacific Basin from Aug. 15-24, according to the report, causing damage in parts of China, Japan, Vietnam and the Korean peninsula.
Tropical Storm Rumbia (China), Tropical Storm Bebinca (China, Vietnam), Typhoon Soulik (Japan, Korean peninsula) and Typhoon Cimaron (Japan) caused economic losses estimated at more than $1 billion, according to the report, but insured damage estimates were not provided.
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