After floods, the deluge

It’s their turn now to face the deluge. With floods bringing about unprecedented losses, insurance companies now have a tough job on hand. Recent floods in different parts of the country have landed the companies in a situation where they are just waiting for a deluge of claims — and a torrid time. As per the industry estimates, Rs 8,000 crores is the cost of damage (machinery, equipment, property and trade) that has been caused by the recent floods in Gujarat. Textile and diamond are the major sectors that are adversely affected by these floods as Gujarat is a key centre for these industries.

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Source:- IIPM Editorial

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