Jérôme Jean Haegeli,Chief Economist, Swiss Re A high number of...
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IFC,DFC and African Risk Capacity launch reinsurance fund to protect African smallholders impacted by climate crisis
Despite these increasing risks, subsidized agri-insurance is only...
Hailstorm Claims Risk Undermining Solar Energy, Insurer Says
Insurers are beginning to reduce coverage for solar businesses due...
Mauritius seeks compensation after vessel blackens beaches
More than half of about 1,000 tons of fuel that leaked from the MV Wakashio has yet to be removed from the sea and coast. About 1,020 tons of oil has been transfered from the big ship to small tankers, and crews are working to remove more than 1,500 tons that still remains, Nagashiki Shipping, which owns the vessel, said on Tuesday.
Global insurance losses from natural catastrophes and man-made disasters at $ 31 billion in H1 2020:Swiss Re
Global insured losses from natural catastrophes rose to USD 28 billion in the first half of 2020 from USD 19 billion the year before, while insured losses from man-made disasters decreased to USD 3 billion from USD 4 billion.
Secondary perils primary loss drivers once again In the North America, severe convective storms (thunderstorms with tornadoes, floods and hail) caused insured losses of over USD 21 billion in the
first half.
U.S. NOAA raises predicted number of tropical storms to a record 25
World’s three hottest Julys happened in the last five years
In the Arctic, which has been warming at more than twice the global rate in recent decades, the expanse of sea ice shrank to its lowest level recorded for any July since 1979. The data service said satellite images reveal ice-free conditions “almost everywhere” along the Siberian coastline – a shipping route that, until a few years ago, could be crossed only with an ice-breaking vessel.
Coastal flooding could hit 20% of world GDP by 2100 – study
Flood events that have typically occurred once in 100 years “could occur as frequently as once in 10 years” for much of the world, said the authors of the report, including researchers at the universities of Amsterdam, Melbourne and the Global Climate Forum.
SoftBank-Backed ClimaCell raises funds for weather forecasts
ClimaCell’s forecasting products use past weather history and artificial intelligence to gauge the weather’s impact on businesses. Airline companies had been some of ClimaCell’s key customers, but the slowdown in global travel caused by the coronavirus prompted the startup to pivot this year, Elkabetz said.
Earth’s atmosphere more sensitive to CO2 emissions than thought,study finds
WASHINGTON: Hopes that the rise in average global temperatures by 2100 might be capped below 2.5C can be all but ruled out if greenhouse gas emissions continue at the current rate, new research reassessing the atmosphere’s sensitivity to CO2 suggests.The...
Patchy data hinders climate risk assessment in finance – regulator
The Financial Stability Board (FSB), which coordinates financial rules for the Group of 20 Economies (G20) and is chaired U.S. Federal Reserve Vice Chair Randal Quarles, said in a report that regulators and investors could find it difficult to compare banks or insurers from different countries
Global cat losses at $75 bn in 1H 2020,India’s Amphan was the costliest:Aon Report
Natural disasters were responsible for approximately 2,200 fatalities during the first half of 2020, significantly below the long-term (1980-2019) average of 39,800 and the median of 7,700. Flooding was the deadliest natural peril during the period, having been responsible for 60 percent of the death toll.
Plastic pollution flowing into oceans to triple by 2040:study
If no action is taken, however, the amount of plastic going into the sea every year will rise from 11 million tonnes to 29 million tonnes, leaving a cumulative 600 million tonnes swilling in the ocean by 2040, the equivalent weight of 3 million blue whales, according to the study published in the journal Science.
“Plastic pollution is something that affects everyone. It isn’t a ‘your problem and not my problem’. It’s not one country’s problem. It’s everyone’s problem,” said Winnie Lau, senior manager at Pew and co-author of the study.