"There is a chance the cargo, including containers and oil, will...
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Geneva Association report calls for action to safeguard home insurance amid rising extreme weather risks
“Extreme weather is no longer a future threat – it’s disrupting...
German reinsurers post profit falls after $1.9 billion Los Angeles fire claims
“The devastating wildfires in California are another example of how...
Govt wants adoption of Property/Parametric covers to mitigate financial losses due to natural catastrophes
Vivek Joshi, Secretary, Department of Financial Services (DFS), for the first time on Wednesday met General Insurance Council and a few CEOs of private sector general insurance companies in New Delhi, to discuss several critical issues having implications for the...
Cat bond market is defying the global selloff with record returns
Big reinsurers like Swiss Re and Munich Re, as well as some real-economy companies, have increasingly looked to cat bonds as they try to protect themselves from once-in-a-lifetime disasters. In July, Blackstone Inc. turned to cat bonds to shield property assets from...
India to start monitoring high-risk glacial lakes next year
There are 56 at-risk glacial lakes in India and the urgency to monitor them was stepped up after Lhonak Lake in the eastern Himalayas burst its banks two weeks ago and caused widespread damage in Sikkim, a small mountainous state wedged between China, Nepal and Bhutan...
3.1 magnitude earthquake strikes Faridabad near Delhi
Experts say the impact of a large-scale earthquake can be reduced if people and institutions strictly comply with the bylaws and codes to build resilient structures.They say the resonant frequency of a building can play a critical role in determining the level of...
Hydropower projects fuelling disasters in Himalayas: Experts
Gyatso Lepcha from Affected Citizens of Teesta (ACT), a local advocacy group, said, “The 1,200 MW Teesta III was completely washed away. This dam was built only 30 km away from Lhonak Lake. The state government is blaming the previous government for substandard...
Early warning system for India’s flooded glacial lake was delayed by a year
In recent years, glacial flood early warning systems have been deployed in China, Nepal, Pakistan and Bhutan as climate change has raised the risks of flooding. The Lhonak Lake system is a pilot project being executed with the help of Swiss agencies, with India’s...
Sundarbans records highest drowning mortality rate among children across globe: Report
In the Indian part, Sundarbans is spread over 100 islands and has around 40 lakh inhabitants. Of the total population, around 15.9 per cent are children aged between one and nine and has a mortality rate of 38.8 per lakh population among children aged between five and...
Allahabad HC instructs state to form high-powered committee on fire safety measures
A bench of Justice AR Masoodi and Justice OP Shukla passed the order on a PIL registered by the court earlier, taking suo motu cognizance of a fire that broke out last year in Levana Suites Hotel in the city capital. The bench said had such a committee been...
Death toll from strong earthquakes that shook western Afghanistan rises to over 2,000
The United States Geological Survey said the quake's epicenter was about 40 kilometers (25 miles) northwest of Herat city. It was followed by three very strong aftershocks, measuring magnitude 6.3, 5.9 and 5.5, as well as lesser shocks Islamabad: Death toll from...
Earthquake-predicting tool driven by AI shows 70 per cent accuracy, new research reveals
“It’s a matter of milliseconds, and the only thing you can control is how prepared you are. Even with 70 per cent, that’s a huge result and could help minimise economic and human losses and has the potential to dramatically improve earthquake preparedness worldwide,”...