Wildfire risk is now the fastest-growing category of...
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Climate change made ‘fire-prone’ weather conditions more likely in Spain and France, scientists say
“We’ve seen repeatedly how climate change increases hot, dry,...
Japan earthquake halts auto and chip plants, testing supply chain resilience
Given Japan’s proneness to natural disasters, manufacturers have...
Japan earthquake’s insurance claims may top $1.1 billion: Bloomberg Intelligence
Most of the exposure from the July 28 quake in Kumamoto is tied to commercial properties, as well as residential coverage under Japan’s earthquake insurance system, he said. Insurance claims from this week’s earthquake in Japan may top the 175 billion yen ($1.1...
Assam and Orissa flood remain grim; IMD predicts heavy rainfall in Arunachal, Nagaland,Mahanadi water levels continue to rise
A crop area of 21,523.08 hectares remained submerged in Assam. More than 11,000 animals have been washed away, while another 17,000 have been affected.Damage to various infrastructure, including embankments, houses, roads, schools and other public property, was also...
Global CAT losses at nearly $112bn, only $44bn insured: Munich Re
Thomas Blunck,Member of the Board of Management. The first half of the year has provided a welcome breather from previous years of high natural disaster losses. But climate change and growing exposure persist, increasing the risk of larger losses in the future. The...
Major quake hits southern Japan, workers missing after mall blast
“We have already been informed that people have been injured. Power outages and fires have occurred in some areas, and there has also been damage to roads and bridges and the collapse of buildings,” Japanese Prime Minister Sanae Takaichi said. A 7.1-magnitude...
Assam flood: Over 4.4 lakh people affected in 6 districts, toll remains at 68
No deaths were reported in the past 24 hours, with the toll in this year’s deluge remaining at 68, the ASDMA bulletin said. Guwahati:The flood situation in Assam improved marginally on Monday, with no fresh fatalities reported in the last 24 hours, though 4.45 lakh...
Why El Niño’s promise of quieter Hurricane Season may not be good news for insurers
“All it takes is one landfalling hurricane to create an insured loss of a magnitude we’ve never seen before … And that could absolutely happen in an El Niño year,” said Kimberly Roberts, advisory leader of North American peril at reinsurance broker Guy Carpenter For...
Floods, landslides across northern India kill at least 25
GUWAHATI/SRINAGAR: At least 25 people died in floods and landslides caused by torrential rain across northern and northeastern India over the weekend, officials said on Monday, with more rain predicted over the next few days. At least 23 people have died and seven...
Bavi hits China, Millions evacuated
Scientists say climate change is increasingly exposing the world’s second-largest economy to destructive weather events, with this year of particular concern due to the expected emergence of the El Nino weather pattern, which could drive up temperatures and fuel more...
HP to develop Rs 3,500 cr disaster resilience infrastructure: CM
The Western Himalaya was an ecologically fragile region where disasters have significantly increased in recent years.There is a need to move beyond conventional development models by integrating disaster resilience into infrastructure planning, strengthening early...
London steps up bid to become global ILS Hub
London’s dominance in insurance-market infrastructure makes it an obvious destination for issuers of catastrophe bonds and other ILS products, says Caroline Wagstaff, chief executive of the London Market Group, whose members include insurers operating in the world’s...