Kathmandu. More than 90 per cent of the economic losses caused by floods and landslides caused by recent torrential rains in south Asian countries, including Nepa, have been found to be out of insurance.
Willis Towers Watson (WTW), a British-American multinational insurance consultancy, has said that 80-90 percent of the economic damage caused by natural disasters caused by rains in South Asian countries is out of insurance. According to the WTW, the floods and landslides have affected these countries, especially agriculture, energy and manufacturing sectors.
Nepal, India, Pakistan and Bangladesh are among the south Asian countries affected by floods and landslides. The WTW believes that climate change is the main cause of such natural disasters.
The WTW suggests that countries should develop a financial strategy along with risk management to address the damage caused by natural disasters such as floods and landslides, which are increasing every year. The WTW has been advising on the financial impact and risk management strategies arising out of natural disasters in particular. – Agency
