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India counts cost of deadly floods

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India’s worst flooding in decades has left economic losses of at least $US4.25 billion ($6 billion), according to Impact Forecasting’s monthly catastrophe recap.

Insurers have paid out $US175 million ($246 million) from more than 13,000 claims, and the figure is expected to climb as high as $US635 million ($894 million), Impact says, citing General Insurance Companies of India.

More than 500 people are dead or missing after the deadliest floods since 1924 hit Kerala state last month.

Elsewhere last month, powerful earthquakes that hit Indonesia’s Lombok island caused about $US528 million ($743 million) in economic losses, according to the Aon Benfield modeller.

In the US, severe weather left insurers with three-quarters of the $US2 billion ($2.8 billion) economic loss.