Insurance helps protect from losses such as accidents, fire or floods
It gives peace of mind that's for sure
2015 South Indian floods
The 2015 South Indian floods resulted from heavy rainfall generated by the annual northeast monsoon in November–December 2015. They affected the Coromandel Coast region of the South Indian states of Tamil Nadu and Andhra Pradesh. More than 500 people were killed and over 1.8 million (18 lakh) people were displaced. With estimates of damages and losses ranging from nearly to over , the floods were the costliest to have occurred in 2015, and were among the costliest natural disasters of the year.
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, accidents involving expensive space or infrastructure facilities, grate forest fires (and as well human-made) in populated areas, devastating floods, etc.
Some risks require state reinsurance support due to high social or economic importance but low attractiveness in terms of economic efficiency for a single insurer or reinsurer. They include a wide range of risks in agricultural insurance (e.g. coverage of losses related to African swine fever virus), housing insurance against catastrophic events (flood, forest fire, earthquake, etc.).
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