India and Australia count cost of November floods

An active Northeast Monsoon affected parts of India and Sri Lanka from late October through November, killing at least 190 people in India and 27 in Sri Lanka. Tens of thousands of structures and vehicles were damaged or destroyed, along with agricultural land and infrastructure.

This is according to the latest catastrophe recap from Aon’s Impact Forecasting.

Total economic losses in Karnataka and Andhra Pradesh states (India) alone were estimated at more than INR180 billion ($2.4 billion), with additional losses in neighboring states.

Also in November, there was notable flooding in New South Wales and Queensland in Australia occurred during the second half of November. Flooding was significant along the Upper Lachlan River, where evacuation orders were issued for residents in Forbes.

It was the wettest November for New South Wales and Australia since records began.

Extensive damage to agricultural land was incurred, with total economic losses initially expected to be in the 100s of millions (USD).

A series of winter weather events in early and late November also impacted parts of China, notably Inner Mongolia, Liaoning and other northern provinces. Total aggregated economic losses were estimated by the authorities at CNY6.9 billion ($1.1 billion).

Steve Bowen, managing director and head of Catastrophe Insight for Aon’s Impact Forecasting team, said: “The reality of heavier rainfall events and subsequent flooding continues to become more evident on a seemingly monthly basis as new examples of extreme events occur.”

”2021 has recorded several record-setting events in parts of Europe, Asia, Oceania and the Americas, which has further exposed structural, agricultural and infrastructure vulnerabilities to high-intensity, low-interval rainfall occurrences.”

”Recent events in Canada, India and Australia serve as reminders of the need to navigate the increasing volatility of these events and the interconnected and more severe risks they present.”