Disaster & Management

Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon report

International News       Jan 22, 2019

  Chicago: Aon's Weather, Climate & Catastrophe Insight: 2018 Annual Report reveals that 394 natural catastrophe events in 2018 generated economic losses of USD225 billion.   Of that total, private sector and government-sponsored insurance programs covered USD90 billion of the total – the fourth-highest year on record....

Pandemics may cause $570 bn annual loss to global economy, says WEF report

International News       Jan 19, 2019

  New Delhi: Global businesses face huge risks from a new era of epidemics and pandemics that may cause an average annual economic loss of $570 billion to the global GDP, posing a threat similar to that from climate change, says a report.   In the report...

IMD working to give forecast on thunderstorms 6-12 hours in advance

Indian News       Jan 13, 2019

  New Delhi:  Scientists at the India Meteorological Department and other agencies are working to create models to forecast occurrence of thunderstorms six to 12 hours in advance, learning lessons from last year's deadly storms in pre-monsoon season that killed over 200 people in the north...

Global natural disasters wreak $160 bn damage in 2018; worst losses in US

International News       Jan 08, 2019

  Munich: Natural disasters including wildfires, hurricanes and tsunamis inflicted $160 billion of damage and claimed 10,400 lives in 2018, German reinsurer Munich Re said Tuesday.   Global natural disasters wreak $160 bn damage in 2018; worst losses in US including wildfires, hurricanes and tsunamis inflicted $160...

GST panel for Kerala levying 1% cess for 2 yrs to fund flood rehabilitation

Indian News       Jan 06, 2019

  New Delhi: The ministerial panel under Bihar Deputy Chief Minister Sushil Modi Sunday approved levy of 1 per cent 'calamity cess' by Kerala for a period of two years to fund rehabilitation work in the state hit by floods.   The goods and services, which will...

Los Angeles releases Earthquake Warning App

International News       Jan 06, 2019

  Los Angeles has released an earthquake warning app that could give LA County residents precious seconds to drop, cover and hold on in the event of a quake.   The city announced this week that ShakeAlertLA is available for download on Android and Apple phones.   Based...

Storm Pabuk kills 3, forces over 34,000 to evacuate in Thailand

International News       Jan 05, 2019

   Bangkok: Tropical Storm Pabuk has killed three people and prompted an evacuation of more than 34,000 villagers in southern Thailand, a senior government official said on Saturday.  Director General of the Department of Disaster Prevention and Mitigation (DDPM) Chayaphol Thitisak said one fisherman was killed...

Indonesian tsunami insurance claims may reach $1.09 bn

International News       Dec 27, 2018

  Jakarta:  For Tsunami, that struck Indonesian islands Lampung and Banten without warning last week, insurers will have shell out an estimated US$1.09 billion in claims to policyholders, according to Jakarta Post.   According to insurance companies PT Maskapai Reasuransi Indonesia (REI) and PT Asuransi Maipark Indonesia,...

Volcano-triggered tsunami kills 429, thousands homeless Indonesia

International News       Dec 25, 2018

  Jakarta: The death toll from the tsunami that hit Indonesian islands without warning Saturday night has passed 420 with more than 1,400 people injured.Thousands of people were left homeless when the waves smashed homes on coastal areas of western Java and southern Sumatra.Disaster agency spokesman...

Global insured losses of $79 billion in 2018, 4th highest

International News       Dec 18, 2018

  Zurich:  According to preliminary sigma estimates, total economic losses from natural and man-made catastrophes in 2018 declined to USD 155 billion from USD 350 billion in 2017. Global insured losses are estimated to be around USD 79 billion, higher than the annual average of the...

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