Christopher Au, Head of APAC Climate Risk Centre, at Willis, said:...
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Disaster & Management
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Super Typhoon Fung-wong slams into Philippines, two dead
The typhoon could cover two-thirds of the Southeast Asian...
Hurricane Melissa to trigger Jamaican Cat Bond, reinsurance losses
Hurricane Melissa will trigger the $150 million, International Bank...
World’s first Climate Resilience Bond issued by Tokyo Metropolitan Government
“This new bond label is a notable development for the market.The bond’s oversubscription “signals that the market is ready to allocate capital to these types of investments,”Melissa Cheok, associate director at Sustainable Fitch The Tokyo Metropolitan Government...
Hurricane Melissa makes Cuba landfall after lashing Jamaica
The hurricane is expected to result in property damages costing between $5 billion and $10 billion in Jamaica, according to an estimate by Cotality, a property intelligence company. Hurricane Melissa made landfall in Cuba less than a day after it became the strongest...
Catastrophe bond investors brace for Jamaica payout
Depending on exactly where Melissa hits Jamaica, total losses may range from $5 billion to $16 billion, according to Chuck Watson, a disaster modeler with Enki Research. Investors in a catastrophe bond tied to Jamaica look set to experience a trigger event as...
Cyclone Montha: Two dead in Andhra, crops suffer damage, CM Naidu says state minimised loss
N Chandrababu Naidu,Chief Minister , Andhra Pradesh Citing preliminary estimates, the government had noted on Tuesday that standing agricultural crops in as many as 38,000 hectares were destroyed due to the impact of Montha and horticulture crops in 1.38 lakh hectares...
Cyclone Montha lashes India’s east coast; kills one
India's weather department has forecast extremely heavy rain on Wednesday for the coastal states of Andhra Pradesh, Odisha, Telangana and West Bengal with wind gusts of up to 90 kmph. The cyclone is expected to weaken to a deep depression later in the day....
Category 5 storm Hurricane Melissa threatens to bring widespread destruction to Jamaica
Jamaica’s losses will range between $5 billion to $16 billion, depending on the exact track across the island, said Chuck Watson, a disaster modeler with Enki Research. There will likely be another $5 billion of losses in Cuba. From there, the storm is forecast to...
Tens of thousands evacuated as cyclone Montha gains strength
The cyclone is likely to turn into a severe storm by Tuesday, before crossing the coast of Andhra Pradesh later in the day, the India Meteorological Department (IMD) said HYDERABAD: India moved 50,000 people to relief camps on Monday as it began evacuations a day...
India’s Cloudburst Challenges:Insurance gaps & Future safeguards
The entire Himalayan belt is increasingly vulnerable to cloudbursts, flash floods, landslides, and potential glacial lake outburst floods (GLOFs), all driven by changing monsoon patterns and accelerated warming in the region. These risks are not onlybecoming more...
Insurance Development Forum raises $340 million for Infrastructure Resilience Development Fund
This debt fund will invest in small to medium-sized commercial infrastructure projects in emerging markets and developing economies (EMDEs). It will target a diversified portfolio of resilient infrastructure, including clean water and water management, waste...
Vietnam estimates property damage from Typhoon Bualoi at $303 mln
Bualoi made landfall on Monday in northern central Vietnam, bringing huge sea swells, strong winds and heavy rains that have killed at least 29 people and left 22 others missing, according to the disaster management agency report. HANOI: Vietnam's government said...