Jérôme Jean Haegeli, Swiss Re’s Group Chief Economist, said: “Climate change is one of the biggest risks facing society and the global economy. The recent analysis from the UN’s Intergovernmental Panel on Climate Change confirms expectations of more extreme weather in the future and urgency to act to limit global warming. Working with the public sector, the re/insurance industry plays a key role in helping to strengthen communities’ resilience by steering development away from high-risk areas, making adaptation investments, maintaining insurability of assets and narrowing protection gaps.“
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Maha July rains: Rs 2,500 cr loss to industrial units in Mahad, Chiplun
Manufactured products, machinery and raw material in industrial estates spread over 2,000 acres in Mahad and New Mahad were severely affected and the loss may be in the range of Rs 2,000 crore, while 50 of the 161 units in Chiplun industrial estate had suffered major damage, he said.
He said the rains had damaged roads and bridges in the industrial area, while water-logging in the MIDC office had soiled some documents, though efforts were on to ensure administration work was not hampered.
German and Chinese insurers endure their costliest natural disasters as IPCC confirms rise in extreme weather events: Aon report
Total economic losses due to catastrophic events across the globe exceed $52 billion. Seasonal monsoon flooding and associated convective storms continued in India throughout July, including a particularly intense spell from July 22-28. Hundreds of people were killed in July as the seasonal death toll rose to 534. The total economic loss in India increased to at least $1.6 billion; most of which is uninsured.
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