Indian insurance companies are among the worst performers on the planet when it comes to covering climate-linked losses, with the lowest rate of insurance penetration across Asia, according to a recently available analysis of the global climate insurance sector.
Indian insurance companies have, actually, failed to pay near to three-fourths of the claimed amount for Cyclone Amphan, the devastating cyclone that flattened the Sundarbans in West Bengal during May 2021. That is despite them releasing record quantity of insurance claims for just about any natural disaster.
A spate of as of late distributed environment reports by the Intergovernmental Panel for Climate Change (IPCC) have called attention to that India is one of the most environment weak nations all around the world. These possess added that India is likely to incur further monetary losses due to extreme weather events.