SINGAPORE (Reuters)—Insured losses from Thai floods could be in the double-digit billions of dollars and the disaster will lead to a re-assessment of weather risks to industries in Asia, a senior official from global insurer Allianz said.
- Newspaper section: News
Bangkok and nearby cities are likely to be spared from severe flooding this year but mushrooming flood barriers could cause higher water levels than last year in certain areas, a group of Thai-based consulting firms predict.
Monks’ quarters collapse
Several monks’ living quarters at Wat Sikuk in Bang Ban district of Ayutthaya collapsed yesterday following a failed bid to raise the floor to safeguard against flooding. The quarters, which are almost 100 years old, were supported by beams which became unstable after they had been submerged in floodwater in past years, subcontractors responsible for the floor-raising operation said. SUNTHORN PONGPAO
Chaowalit Chantararat, managing director of TEAM Group, said the prediction was based on the amount of rainfall last year and flood prevention measures carried out so far by the government.
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