Economy suffers $3-billion loss from recent floods: Aon Benfield

Economy suffers $3 billion loss from recent floods: Aon Benfield

India suffered a $3-billion loss to its economy from severe rainfall and flooding in November and early December, reinsurance broker Aon Benfield said in its monthly report on global catastrophes.

“New economic developments in Asia are taking place in flood plains and marsh lands with scant attention to drainage, thus increasing run-off and flooding,” Adityam Krovvidi, head of impact forecasting, Asia Pacific, at Aon Benfield, said in a statement.