World Property and Casualty Insurance Report 2022: research...
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Disaster & Management
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IMD issues two-day red alert in five Kerala districts ahead of monsoons
"We held a meeting on Saturday, chaired by the Chief secretary....
Assam floods: 3 dead, nearly 25,000 people in 94 villages affected
According to the flood reports of Assam State Disaster Management...
Bihar: 19 NDRF teams deployed in flood-affected areas
As many as 19 people have lost their lives in rain-related incidents in Bihar’s capital, while 14 people have died across Uttar Pradesh owing to the rainfall and flood-like situation in the region.
Parametric catastrophe facility CCRIF pays $12.8 mln to Bahamas for Dorian damages
Since its inception in 2007, CCRIF has made 40 payouts totaling about US$152 million to 13 of its 21 member governments
Insurers to offer up to $5B in capacity to hike developing nations’ Climate Resilience
As part of the program, as much as $5 billion in insurance capacity will be offered to 20 developing countries that are vulnerable to shifts in the climate and willing to work with the groups to increase their resilience, according to a statement Sunday from the Insurance Development Forum, the UN Development Program, the German Federal Ministry for Economic Cooperation and Development and the U.K. Department for International Development.
India to offer Pacific island nations $150 mn credit line for climate issues
In addition, a concessional Line of Credit of $150 million which can be availed by the PSIDS for undertaking solar, renewable energy and climate related projects based on each country’s requirement was announced,, .
Insured losses for Typhoon Faxai estimated at $3B-$7B: AIR Worldwide
According to AIR, Typhoon Faxai surpassed Typhoon Higos for the strongest sustained wind speed at landfall in the region and tied with 1958’s Typhoon Helen for the lowest recorded central pressure. Faxai was comparable in strength to Typhoon Jebi, which devastated the southern Shikoku Island in 2018
Climate change tops list of world’s ‘extreme risks’
Tim Hodgson, Head of the Thinking Ahead Group, said: “Our extreme risks ranking has seen the emergence of a general trend with financial risks falling down the rankings and non-financial extreme risks growing in significance. Global temperature change becomes the highest ranked risk due to our assessment of higher likelihood coupled with significant impact – in the extreme this would mean mass extinction.
Why are Amazon fires potentially sparking global climate crisis?
Brazilian climate scientist Carlos Nobre believes 15-17% of the entire Amazon has already been destroyed. At first, researchers thought the tipping point would be 40% destruction. But that has changed with global warming raising temperatures in the Amazon and the increasing number of fires. Nobre now says that the tipping point is more likely at between 20-25%.
ADB Introduces Contingent Disaster Financing for Natural Disasters
Asia and the Pacific is the world’s most natural disaster-prone region. Between 2014 and 2017, countries in the region suffered 55 earthquakes, 217 storms and cyclones, and 236 cases of severe flooding, affecting 650 million people and causing about 33,000 deaths, according to the United Nations.
Floods: Death toll rises to 163 in Kerala and Karnataka; Rains continue in Kerala
Meanwhile, the Karnataka government on August 14 transferred Rs 2,000 to each of the bank account of one lakh farmers as part of its announcement to provide additional financial assistance from the state to the beneficiaries of the Pradhan Mantri Kisan Samman Nidhi Scheme.
Catastrophes cause $44 bn global economic losses in H1 2019,only 42% of them were insured:Swiss Re
Only about 42% of the global economic losses were insured (compared with 52% in the first half of 2018) as several large-scale disaster events, such as cyclone Idai in southern Africa and cyclone Fani in India, occurred in areas with low insurance penetration.