Insurance claims drop 30-35% during Chennai floods compared to 2015

This is noteworthy considering the number of policies issued across India by general insurers rose by 74 per cent in 2021-22 compared to 2014-15

Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015.

However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.

According to data shared by industry sources, the proactive response from both authorities and the public contributed to a significant reduction in claims, with a 30-35 per cent decrease in motor and non-motor insurance, compared to the 2015