The showdown over financing for developing countries comes in a...
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State govt has funds in SDRF for Wayanad rehabilitation Centre to Kerala HC
The submission from the central government came during the hearing...
New Zealand Govt launches online hub with mental wellbeing tools to help farmers deal with stress of adverse weather events
“Adverse weather events are an increasingly common reality for our...
Russian hackers account for most 2021 ransomware schemes, U.S. says
In analysis issued in response to the increase in number and severity of ransomware attacks against critical infrastructure in the United States since late 2020, the U.S. Financial Crimes Enforcement Network (FinCEN) said it had received 1,489 ransomware-related...
India saw an extreme weather event on almost 90 pc days in first 9 months this year: CSE report
These disasters claimed 2,775 lives, affected 1.8 million hectares (ha) of crop area, destroyed over 4,16,667 houses and killed close to 70,000 livestock, stated the report, 'Extreme Weather Report 2022', released by the Centre for Science and Environment (CSE New...
International Road Federation to launch blockchain-based digital platform on road safety
It will contain login-based specific and secured information about road users, including their driving licence, safe driving scores, validity of licence, insurance policy, e-challan and penalties, if any, as well as vehicle details such as registration, challan and...
Pakistan needs USD 16 Bn to build back as losses due to flash floods cross over USD 30 Bn
As per the report, the damage, and loss, following the unprecedented floods in Pakistan require transparency, inclusion, and climate resilience The losses due to devastating floods in Pakistan have surpassed USD 30 billion in the country as the monsoon rains have...
Heat waves due to climate change have cost world economy trillions so far
The study is among the first to specifically examine how heat waves affect economic output, said senior author Justin Mankin, an assistant professor of geography at Dartmouth It has discovered that from 1992 to 2013, heat waves statistically correlated with changes in...
Odisha to prepare disaster management warriors to face calamities: Patnaik
Naveen Patnaik,Chief Minister,Odisha For better impact-based forecasting, the government will set up a telemetric rain gauge in all gram panchayats, the automatic weather stations at block headquarters, and sensors in our river systems. These steps will help us to get...
Fitch rates its first natural disaster clause Sovereign Bond
`On 20 October we assigned a rating of ‘B’ to Barbados’s US dollar-denominated global bonds maturing on 1 October 2029. The issue includes provisions for payments to bondholders to be deferred for up to two years in the event of a pre-defined natural disaster. This is...
Cyclone Sitrang: IMD issues advisory, suspends offshore activities in north Bay of Bengal
“Due to the cyclonic storm over West Central Bay of Bengal and adjoining East Central Bay of Bengal and its likely intensification into a severe cyclonic storm, fishermen are advised not to venture into the sea till 25th Ocober’2022,” IMD’s statement said. Kolkata: In...
Natural disasters cost global economy over $227 billion till Q3 2022: Aon Cat Report
Michal Lörinc, head of catastrophe insight in Aon’s Impact Forecasting team, said: “It is anticipated that there will be robust loss development across many of the reported natural catastrophes, especially with the realization of costs associated with recent tropical...
Hurricane Ian fallout will test Cat Bond investor appetite
Cat bonds are approximately 30% of the ILS market. Commentary from the Monte Carlo Rendezvous 2022 indicated a pipeline of ILS deals of $5 bil. of additional reinsurance capacity, which would benefit insurers facing a hardening market New York: Reinsurers facing...