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100 only premium vehicles due to bengaluru floods crore has been lost. Damage to other properties is different. India is not alone in being the victim of such incidents.

When the outbreak of the Corona epidemic happened, the health insurance people in India got a new setback. He was told that the insurance companies have increased the rate of the policy drastically. This increase was seen up to a quarter. As a result, there have also been reports that many people have let their policies expire. Now such a blow is going to be felt by the people who have general insurance. This is being attributed to the increasing impact of climate change. It is reported that insurance companies have been flooded with claims due to the damage caused by the recent floods in Bangalore. This month, three days of heavy rains engulfed the metropolis of Bangalore, known as the IT capital of India, in floods. This rain exposed the poor urban planning of Bangalore. The posh areas and even the corridors of major IT companies could not escape the floods. Since this phenomenon is not alone – that is, in the past few years, similar scenes have been present in many cities including Chennai and Mumbai, it is now understood that such disasters have become common now.

Insurance companies say they have received hundreds of claim requests in Bangalore. There have also been high value claims for premium segment vehicles such as BMW, Mercedes and Audi. According to estimates made on the basis of claims till September 13, only premium vehicles have suffered a loss of 100 crores due to the floods in Bengaluru. Damage to other properties is different. But India is not alone in being the victim of such incidents. Earlier, insurers in Switzerland had said that the damage caused by climate change was increasing continuously. In 2021, severe flooding occurred in some areas of Germany. According to Germany’s largest insurance companies, natural disasters caused losses of $ 280 billion worldwide in 2021. So getting insurance will be expensive. Those who will be in a position to pay this price will have to live under the shadow of deepening risk.

Shubham Bangwal

Shubham Bangwal is a Senior Journalist at Youthistaan.com You can follow him on Twitter @sb_0fficial
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