Will your insurance survive the next storm? What most policies miss and how to fix it
India is now among the top five countries globally most affected by climate-related disasters. According to the India Meteorological Department and the Centre for Science and Environment, the country witnessed 314 extreme weather events in 2023 alone, resulting in over 3,000 fatalities and impacting nearly 2.5 crore people across 22 states. From flash floods and urban deluges to heatwaves and cyclones, the scale and frequency of such events are no longer exceptional — they’re a regular part of our reality. And yet, our insurance preparedness has not kept pace. Despite rising awareness and growing policy adoption, a large number of Indian households remain underinsured or incorrectly insured for the climate risks they actually face. Too often, policyholders assume that having an insurance plan automatically ensures protection. But in the wake of a disaster, many find out — too late — that their policy excludes the very thing they needed it for. Extreme Weather Is No Longer an Exception From Guwahati to Gurugram, India is facing a new normal: ● Monsoon rains flooding major urban centres like Delhi, Mumbai, and Bengaluru ● Heatwaves breaking decades-old records in states like Rajasthan and Uttar Pradesh ● Cyclones like Michaung and Biparjoy disrupting lives and infrastructure across eastern and western coasts
