SRI LANKA FLOODS
May 1st, 2003
BY SWINEETHA DIAS WICKRAMANAYAKASRI Lanka Insurance Corporation officials are assessing catastrophic losses that have hit the country's tea industry which have been wrought by flooding devastating low-lying plantations. Early estimates predict that the island's economy could lose as much as SLRupees 2.8 billion (US$28.79 million) because of the disaster. It is thought that 'low grown' tea plantations in southern Sri Lanka may lose up to 25 per cent of production and take two to three months to recover. "A deluge of insurance claims is expected particularly from ...
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