Indian insurers are bracing themselves for a massive insured damages bill after torrential rains and severe floods hit Mumbai, killing more than 1000 people.

While it’s too early to estimate the entire insured loss, it’s expected to be in the tens of millions of dollars.

Many of the big claims are expected to come from the region’s industrial companies, while the city’s vehicle owners and shopkeepers are also expected to lodge a good number of claims due to the flooding damage.

As an example of how large and complex the claims picture is, Bajaj Allianz – the local arm of the German insurer – has already received claims for at least 10,000 motor vehicles lost in the floods. And it’s expecting more.