The tanker, believed to be the U.S.-flagged chemical and oil...
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Govt wants insurance payouts to replace its compensation in managing natural disasters: DFS Secy
L to-R-Hitesh Kotak, Chief Executive, Japan, India, Korea, and...
El Nino, La Nina forecast: Weather Agencies grapple with prediction challenges
An accurate read on the status of the El Niño-Southern Oscillation...
India has mechanism for financing disaster response, mitigation,preparedness and recovery: PK Mishra
''Over the last few years in India, we have completely transformed the way disaster risk reduction is financed.We now have a predictable mechanism for financing not just disaster response but also disaster mitigation, preparedness and recovery. Can we have analogous...
Only 27% of $194 bln economic losses from global natural disasters insured in 1H2023: Aon
Turkey and Syria earthquakes drive nearly half of economic losses from Global Catastrophes in 1H 2023 "Despite the reality that communities globally remain at risk to catastrophes, only about 27 percent of economic losses this year have been insured. These devastating...
Swiss Re structures Blackstone’s first indemnity catastrophe bond
The transaction is Blackstone's first indemnity catastrophe bond and covers named storms and earthquakes in the United States and Canada New York: Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked...
Himachal rains: Economic losses of Rs 4808.79 crore, Death toll reaches 130
As many as 13 people died, including one rescuer, after the landslide occurred at Irshalwadi village in Khalapur tehsil in Maharashtra's Raigad district, police said Shimla/Mumbai: With five new deaths on Wednesday, the death toll in Himachal Pradesh due to rains,...
Above-average global natural catastrophe insured losses reach estimated $52 billion in H1 2023: Gallagher Re
For all perils, the US accounted for 76% of all global insured losses. Thunderstorms in Europe during June also brought a billion-dollar insurance bill to parts of Germany and France “Governments and private organizations are accelerating their investments to help...
Higher losses during disasters due to abysmally low insurance cover of 8%: SBI Report
The losses due to the ongoing floods in the north is the range of Rs 10,000-15,000 crore as the calamity has severely hit Himachal Pradesh, Uttarakhand, Punjab, Uttar Pradesh, Rajasthan, J&K and Delhi. Himachal alone would have lost Rs 3,000-4,000 crore by way of...
IRDAI asks insurers to quickly settle claims out of North In dia floods
Insurers are advised to respond/assist the claimants through their 24x7 helplines,special claims desks at district level with delegated claims settlement teams for speedyprocessing and settlement of claims including on account payments at the earliest andalso...
South Korea flood death toll rises to 40, Yoon blames botched responses
The incident fueled questions over South Korea’s efforts to prevent and respond to flood damage. Some drivers who use the road regularly blamed the government for failing to ban access to the underpass even though floods were widely forecast South Korean President...
Himachal suffered losses of about Rs 8,000 crore due to rain: CM Sukhu
About 70,000 tourists have been evacuated from the state and 15,000 vehicles sent out, while around 500 tourists have voluntarily decided to stay back, Sukhu said in a statement issued here Shimla: Himachal Pradesh has suffered losses of about Rs 8,000 crore as heavy...
75 pc districts exposed to extreme floods only 25 pc of them have early warning systems report
Approximately 66 per cent of individuals in India are exposed to extreme flood events; however, only 33 per cent of them are covered by flood EWS. Moreover, 25 per cent of the Indian population is exposed to cyclones and their impacts, but cyclone warnings are...