Earlier, a high-level committee, headed by Union Home Minister Amit...
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Give utilisation certificate for SDRF funds spent before seeking more money Kerala HC to govt
The court was hearing a plea initiated by it for prevention and...
Govt working on policy of ‘zero casualties’ during disasters: Union Minister Rai in Lok Sabha
“India faces a variety of disasters across seasons. The government...
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...
Australian banks may have to rethink mortgages in risk areas -NAB
Ross McEwan, chief executive officer of National Australia Bank Ltd said that as devastating floods become more frequent it raises questions about whether banks will help people buying assets in flood-prone areas and what the cost will be Australian banks may have to...
U.S. Treasury proposes a new rule to collect data on climate-related risks from P&C insurers
U.S. Treasury Secretary Janet Yellen has pressed U.S. financial regulators to make assessment of climate change risks a normal part of their everyday work, including a demand that companies increase disclosures of such risks to investors Treasury said the proposed...
Drones-manufacturer Garuda Aerospace signs MOU with NDRF
Garuda Aerospace, in a statement here, said the company has become the first start-up to be enlisted as a 'drone-as-a-service' partner for the NDRF Chennai-based drone-maker would deploy the quadcopter named 'Droni' for surveillance, monitoring movements and...
Sikkim working on new disaster risk reduction framework: CM
Prem Singh Tamang, Chief Minister,Sikkim ''The state government is continuously working together with all the Himalayan states and other stakeholders to establish a new disaster risk reduction framework for the region in order to deal with natural disasters,'' said...
Odisha starts prepping for upcoming ‘cyclone season’
''Odisha usually witnesses the wrath of cyclones during the withdrawal of monsoon in October and November. Odisha's geographical situation and climate change have also caused cyclones during the summers since 2019,'' . Bhubaneswar: The Odisha government has asked its...