Cyclone Amphan impact | Insured losses may touch Rs 350 crore

Initial estimates suggest that insured losses resulting from Cyclone Amphan, which struck West Bengal and parts of Odisha on May 20, are expected to reach approximately Rs 350 crore. The majority of these claims are related to crop loss caused by the destruction of agricultural land, as well as losses in motor insurance.

The cyclone, with wind speeds reaching 115-120 kilometers per hour, is estimated to have devastated crops on more than 30,000 hectares of land in the affected areas.

A senior insurance executive mentioned that damage assessment is still underway, with crop insurance claims expected to constitute a significant portion of the total claims. Specialized teams are being deployed in the state to assist policyholders with the claims settlement process.

Although initial reports indicate that over 72 individuals in West Bengal may have lost their lives due to the cyclone, no death claims have been filed yet, according to insurance executives.