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Jakarta floods likely to prompt huge insurance claims

21 January 2013 Last updated at 03:57 GMT

The clean up operation is continuing in Jakarta after severe flooding last week that forced the government to declare a state of emergency.

Nearly 20,000 people were left homeless after unusually heavy rains left the capital of Indonesia waist deep in water. Businesses were forced to close as many areas of the city lost electricity.

Graham Handy, an insurance expert from Ernst & Young, told the BBC's Asia Business Report that the industry is braced for significant claims for compensation.