A report filed by Himachal Pradesh said the recent devastations in...
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Disaster & Management
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Monsoon disasters claims 386 lives, cause losses of Rs 4,465 crore
The cumulative monetary loss is pegged at ₹4,46,574.93 Lakh...
Disasters damage $12.7 Billion of African Infrastructure annually
“Climate change is expected to increase the impact of disasters on...
Multiple climate disasters trigger first ever Red Cross disaster insurance pay-out
The IFRC policy with insurance broker Aon is the first of its kind for the aid sector. It was triggered in mid-September by the deadly Asian Typhoon Yagi, which tipped total disaster spending over the 33 million Swiss franc ($37.84 million) mark, and the fund has...
Flood risk: protective measures up to ten times more cost-effective than rebuilding: Swiss Re study
Flood risk is set to increase due to climate change and urban sprawl.Economic benefits of flood adaptation measures can be up to ten times the costs of post-disaster rebuilding. Dykes can reduce flood damage by 60-90%, especially in densely populated regions Zurich:...
India to focus on climate finance, protecting vulnerable communities COP29
India's key priorities at the conference are likely to focus on ensuring accountability of developed nations on climate finance, strengthening resilience for vulnerable communities, and achieving an equitable energy transition, experts anticipate New Delhi: As world...
Spain floods to trigger total insurance losses in excess of $3.8 billion, will have limited impact on local re/insurers
Another rating agency S&P has said the catastrophic flash floods that hit the Valencia region on Oct. 29 will have limited effects on private insurers and reinsurers. Around 4,500 businesses in the Valencia area have been directly affected, half of which face...
Innovative Climate risk insurance: PCRIC and WTW renew covers for 6 Pacific island nations
For 2024 and 2025, PCRIC now provides insurance for tropical cyclones, heavy rain, earthquake, and tsunami risk to six Pacific governments: the Cook Islands, Fiji, Niue, Tonga, Samoa, and Vanuatu, as well as the state-owned telecommunications company PNG DataCo in...
Spain approves €10.6 billion relief package for flood victims
The package includes direct aid for households, self-employed workers and firms; state-backed credit guarantees for companies and residents; and funds for city governments to pay for repairs and reconstruction. Spanish Prime Minister Pedro Sanchez announced the first...
Deadly Spain floods show difficulty of adapting to intense rains
An extremely hot Mediterranean and warmer air temperatures exacerbated a type of storm system that is becoming more common in the Iberian peninsula due to global warming Floods that killed more than 200 people in eastern Spain this week were caused by a storm that...
Infants, older adults in India exposed to more heatwave days in last decade, Lancet report reveals
Estimating economic impacts of heat in India, the report found that the agricultural sector was the worst hit from potential income loss due to a reduced capacity of labour in 2023 -- to the tune of over $71.9 billion in potential losses In India, over the last...
Global insured cat losses to exceed $102 billion: Aon
The report highlights that insured losses from primary perils during the first nine months of 2024 were relatively low, with no event exhibiting the potential to significantly impact the broader reinsurance market LONDON: A report by Aon plc reveals that there were at...
Spain searches for bodies after unprecedented flooding claims at least 158 lives
Human-caused climate change has doubled the likelihood of a storm like this week’s deluge in Valencia, according to a rapid but partial analysis Thursday by World Weather Attribution, comprising dozens of international scientists who study global warming’s role in...