Ajay Banga,president, World Bank A sharp spike in diesel and...
Category:
Disaster & Management
Latest
Landslide, possible dam breach may have triggered Nepal flash flood,damages two hydropower projects damaged
The flood that struck Nepal around 4 am local time swept away...
South Korean president orders probe into data leaks across financial industry
Lee Jae Myung, President,South Korean “The entire financial sector...
Magnitude-7.4 quake hits western Colombia, collapsing buildings and killing at least 73 peop
Colombia’s Pacific region around the quake’s epicenter lies along the “Ring of Fire”, the line of seismic faults encircling the Pacific Ocean where most of the world’s earthquakes occur. BOGOTA, Colombia: A powerful 7.4 magnitude earthquake struck western Colombia on...
Wildfires fan record sales of Cat Bonds to backstop risk
Wildfire risk is now the fastest-growing category of natural-catastrophe peril globally, with insured losses rising roughly 12% a year, according to KatRisk, a risk modeling firm. At the same time, investors are getting more comfortable with the financial models being...
Climate change made ‘fire-prone’ weather conditions more likely in Spain and France, scientists say
“We’ve seen repeatedly how climate change increases hot, dry, flammable conditions that are extremely conducive to wildfires," said Clair Barnes, a research associate in extreme weather at Imperial College London, who co-authored the WWA analysis. BRUSSELS:...
Japan earthquake halts auto and chip plants, testing supply chain resilience
Given Japan’s proneness to natural disasters, manufacturers have for decades sought to strengthen the resilience of parts supply and this latest quake, which has claimed the lives of 34 people, will be a test of how robust their efforts have been. The 7.1-magnitude...
Japan earthquake’s insurance claims may top $1.1 billion: Bloomberg Intelligence
Most of the exposure from the July 28 quake in Kumamoto is tied to commercial properties, as well as residential coverage under Japan’s earthquake insurance system, he said. Insurance claims from this week’s earthquake in Japan may top the 175 billion yen ($1.1...
Assam and Orissa flood remain grim; IMD predicts heavy rainfall in Arunachal, Nagaland,Mahanadi water levels continue to rise
A crop area of 21,523.08 hectares remained submerged in Assam. More than 11,000 animals have been washed away, while another 17,000 have been affected.Damage to various infrastructure, including embankments, houses, roads, schools and other public property, was also...
Global CAT losses at nearly $112bn, only $44bn insured: Munich Re
Thomas Blunck,Member of the Board of Management. The first half of the year has provided a welcome breather from previous years of high natural disaster losses. But climate change and growing exposure persist, increasing the risk of larger losses in the future. The...
Major quake hits southern Japan, workers missing after mall blast
“We have already been informed that people have been injured. Power outages and fires have occurred in some areas, and there has also been damage to roads and bridges and the collapse of buildings,” Japanese Prime Minister Sanae Takaichi said. A 7.1-magnitude...
Assam flood: Over 4.4 lakh people affected in 6 districts, toll remains at 68
No deaths were reported in the past 24 hours, with the toll in this year’s deluge remaining at 68, the ASDMA bulletin said. Guwahati:The flood situation in Assam improved marginally on Monday, with no fresh fatalities reported in the last 24 hours, though 4.45 lakh...
Why El Niño’s promise of quieter Hurricane Season may not be good news for insurers
“All it takes is one landfalling hurricane to create an insured loss of a magnitude we’ve never seen before … And that could absolutely happen in an El Niño year,” said Kimberly Roberts, advisory leader of North American peril at reinsurance broker Guy Carpenter For...