Wash Out?

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

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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