The first quarter is typically the quietest of the year, though...
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UNDP and Generali partner to develop insurance and risk finance solutions
"On average, the world's poorest countries lose $29 billion every...
25 people dead as typhoon triggered landslides
Nearly 140,000 people have been affected by the storm locally known...
Natural catastrophes record $52b insured losses & 9,000 deaths in 2019:Munich Re
Torsten Jeworrek, member of the Board of Management, commented, “The severe cyclones in 2019 have highlighted the importance of knowledge about changes in risk. Natural climate variations influence weather catastrophes from year to year. Longer-term climate change effects can already be felt and seen. Buildings and infrastructure must be made more resistant in order to reverse the increasing trend in losses. This will enable insurance to be more effective and support the remaining financial losses.”
Indonesia Flooding Forces Evacuation of More Than 400,000 People with 42 Deaths
The new capital that Indonesia will build on the island of Borneo will be flood proof, Public Works and Housing Minister Basuki Hadimuljono said.“While the government may be even more keen to shift its capital city now, the flood is a reminder that the host of issues facing Jakarta – whose metropolitan area is home to 30 million Indonesians – remain acute,” said Wellian Wiranto, an economist at Oversea-Chinese Banking Corp. in Singapore.
The escalating costs of Australia’s wildfire disaster
The Insurance Council of Australia says 5,259 claims worth A$321 million ($224 million) have been lodged. Consultancy SGS Economics and Planning has estimated that Sydney’s economy loses as much as A$50 million each day it is blanketed with a toxic haze from smoke billowing in from the fires. An inquiry into the Black Saturday fires estimated the cost at A$4.4 billion.
Australia’s wildfire crisis intensifies as Locals, tourists seek refuge on beaches
It’s also put international focus on the conservative government’s climate change policies, with environmentalists saying Prime Minister Scott Morrison’s support of the nation’s massive coal-export industry has worsened conditions.
Australia’s bushfires circle Sydney as temperatures soar
The Gospers Mountain mega fire has already burned almost 460,000 hectares (1.14 million acres) to the northwest of Sydney, and there was a risk it could join up with the Grose Valley fire in the Blue Mountains to the west of Sydney.
Germany, Global Parametrics and Hannover Re unvel a new Natural Disaster Fund Deutschland
Dr. Maria Flachsbarth, Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development (BMZ), said, “The NDF is an innovative mechanism that brings together public and private insurance players for the benefit of poor and vulnerable people who far too often face a protection gap. While about 50 percent of disaster losses are covered by insurance in high-income countries, the corresponding proportion in poorer countries is less than five percent. The BMZ is committed to help closing this gap through a substantive contribution to the NDF”.
Cyclone Bulbul’s total economic losses estimated at over $3.3 bn:Aon
. Chicago: Aon plc’s monthly Global Catastrophe Recap report reveals that flooding and inland storms led to multi-billion-dollar economic loss in western and southern Europe during the month. Italy suffered the majority of losses as an active stretch of...
Nuclear plants in country safe: Government
Minister of State in the Prime Minister’s Office Jitendra Singh said there was an identification of a malware infection on Kudankulam Nuclear Power Plant (KKNPP) administrative network which is used for day-to-day administrative activities.
Indonesia starts insuring state assets after year of disasters
The assets are going to be insured against natural disasters such as earthquake, floods and fires, as well as man-made disasters like rioting, terrorism and plane crashes
Cyber attacks top the India Inc’s risk chart: Marsh & RIMS Survey
Some other risks which are identified as a part of Top 10 risks for India Inc are- data fraud or theft, fiscal crises, failure of critical infrastructure, failure of critical infrastructure, failure of climate change adaption, asset bubble, energy price shock, terrorist attacks and failure of urban planning