Optima Insurance Brokers Pvt. Ltd.


Our views on important risk issues and emerging risks.

Insurable losses in India from the Cyclone Biparjoy assessed at less than US$ 100 Mn

Cyclone Biparjoy made landfall in Gujarat on 15th June, causing extensive damage to the residential properties in the coastal region. Majorly, the insurable losses happened because of flood rather than wind damage. An estimate by CoreLogic, a global property solutions provider, puts total insurable losses from Cyclone Biparjoy at less than $ 100 Mn.

This estimated insurable loss comprises damage to residential, commercial, agricultural, and industrial lines of business and excludes infrastructure damage to utilities, transportation, and communication systems.

IRDAI has advised General insurers and standalone health insurance companies to appoint a nodal officer, 24×7 helplines, and special claims desks to process claims faster and release interim payments for restoration of property or businesses, wherever possible to use digital processes.

Optima’s core group has more than 100 man-years of experience in insurance. Our experience has trained us in reading the fine print of insurance policies, understanding it and applying it for the benefit of our clients.

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