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‘ Tamil Nadu has received historic rainfall but damage less than previous times” says CM Stalin on effect of Cylone Michaung
Chennai Airport has resumed operations after being temporarily shut...
Environmental resilience a critical concern for major Asian cities: Tokio Marine & Economist report
Asian cities perform comparatively well in disaster management,...
Billion-dollar June hail event becomes one of Canada’s costliest severe weather events on record, Aon cat report
Meanwhile, several severe weather outbreaks in the United States in June resulted in an economic loss exceeding USD2.3 billion. The costliest event was a prolonged weather pattern from June 5-11 across much of the eastern two-thirds of the United States that caused total economic losses estimated at USD800 million, of which more than USD600 million was insured.
Business interruption insurance claims are a worry, BoE says before court rules
Britain’s Financial Conduct Authority goes to court this month to clarify whether an array of wordings in business interruption insurance policies back claims for compensation for disruptions caused by pandemic lockdowns.
Chubb wants U.S. to offer businesses pandemic cover, with insurers taking some risk
Under Chubb’s plan, the government would offer up to $750 billion in coverage for small businesses with up to 500 employees. Of that, the industry would pay for 6% of claims, or up to $15 billion, during the program’s first year, growing annually to 12% by year 20. COVID-19, the disease caused by the novel coronavirus, would be excluded.
Travelers are venturing out again but avoiding planes, international trips, survey shows
Survey showed.About 51% of people in North America and Latin America plan to book trips in the next six months, compared with 38% in Asia and Europe, according to the survey by software maker Oracle Corp.,Travelers want to stay close to home, preferring to drive and to avoid international trips.
Climate battles are moving into the courtroom, and lawyers are getting creative
Two decades ago, only a handful of climate-related lawsuits had ever been filed worldwide. Today, that number is 1,600, including 1,200 lawsuits in the United States alone, according to data reported Friday by the London School of Economics.
COVID-19 pandemic plunges working world into crisis – ILO
“Let’s be clear: it’s not a choice between health or jobs and the economy. They are interlinked: we will either win on all fronts or fail on all fronts,” United Nations Secretary-General Antonio Guterres told an ILO summit that will be addressed by dozens of heads of state and government via recorded messages.
Masks,disinfectant,social distancing:Japan responds to disaster amid coronavirus
“We kept saying, ‘Check your hazard map,’” said Masako Yoneda of the Japan Academic Network for Disaster Reduction, which issued an urgent warning on the topic in May. “But still, there are people who don’t check.”
Australian Bushfires cause insured Losses of S$1.3B: PERILS
The industry loss data cover the peak period for the bushfires which occurred during the turn of the year, said PERILS, noting that the figure is based on detailed loss data collected from the vast majority of the Australian insurance market.
As insurers face hefty pandemic losses,newcomers see chance to step in
A lot of firms are reducing the amounts of business they do in certain types of insurance, creating space for new entrants, said Convex deputy chief executive Paul Brand.Investors’ appetite for higher returns when central banks are putting in trillions of dollars in stimulus is attracting them to insurance.Broker Hyperion estimates around $16 billion in capital has already been raised by insurers this year, compared with $9 billion over the same period last year.
India’s COVID-19 tally crosses 7-lakh mark
New Delhi: India's COVID-19 tally raced past the seven-lakh mark on Tuesday after a single-day spike of 22,252 infections, five days after crossing the six-lakh post, while the death toll breached the 20,000 mark, according to the Union Health Ministry data. It...