Wash Out?

Tsunami-hit Sri Lanka has claimed over 20,000 lives, with the insurance industry receiving claims for over Rs. 5 bn so far. Tsunami-hit Sri Lanka has claimed over 20,000 lives, with the insurance industry receiving claims for over Rs. 5 bn so far.

While the economic losses are
expected to be enormous, the insurance losses arising from this event is modest
due to lower insurance penetration.

Less than one percent of the Sri Lankan population is insured – both for life
and non-life – but that has not stopped people from sending in their claims.

COSTLY
INSURED LOSSES: 2004

US$ 11.0 bn 2/9/04 Hurricane Ivan
US$ 7.0 bn 11/8/04 Hurricane Charley
US$ 5.0 bn 26/8/04 Hurricane Frances
US$ 4.0 bn 13/9/04 Hurricane

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