Milton will push global industry insured losses thus far in 2024 to...
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Catastrophe bonds dodge worst-case scenario after Milton
Overall, Icosa Investments AG now sees insured losses in the range...
Catastrophe bond investors brace for major losses as Milton rages
Catastrophe bonds, or cat bonds as they’re known in the industry,...
5 NDRF units, Army columns, Navy, Coast Guard teams part of BMC plan to tackle monsoon
The civic body had held meetings with officials handling major infrastructural projects like metro rail and coastal road construction works to ensure channels carrying rain water are clear and do not have blockages, BMC additional commissioner P. Velrasu said Mumbai:...
‘NDRF is in constant touch with all state govts to deal with flood situation’
A large area in India is prone to floods in which the Ganga and the Brahmaputra are the main flood basins. Assam, Bihar, Uttar Pradesh and West Bengal are the most flood-prone states Earlier, the Union Home Minister Amit Shah, also directed the officials to make the...
US P/C insurer capital sufficient to withstand Hurricane Season
Capital strength provides insurers with an ability to withstand losses from large adverse events, including catastrophes. Industry policyholders’ surplus (PHS) increased by 40% over the last three years and now exceeds $1 trillion The June/July mid-year 2022...
World not spending enough to avert disasters as global calamities rise: UN
Developing nations bear the brunt of losses from disasters at 1% of gross domestic product a year, threatening to undo their hard-earned economic gains. That figure comes down to just 0.1%-0.3% for developed countries UN News: Nations are spending too little to...
Supecyclones may have much more devastating impact in India in future: Study
The study, published in the journal Climate Resilience and Sustainability, showed that if greenhouse gas emissions continue at the current rate, more than two and a half times (250 percent) of India's population would experience flooding of greater than one meter,...
NOAA predicts above-normal 2022 Atlantic Hurricane Season
The increased activity anticipated this hurricane season is attributed to several climate factors, including the ongoing La Niña that is likely to persist throughout the hurricane season, warmer-than-average sea surface temperatures in the Atlantic Ocean and Caribbean...
Moving to ‘preparedness for recovery’ key to tackle climate change impact: PK Mishra
P K Mishra,Principal Secretary to the Prime Minister ''In India, for the first time, in the country's disaster risk management financing architectures, we have created a specific window for financing reconstruction and recovery, with USD 7.5 billion over five years,''...
Climate change boosted cost of Japan storm by $4 Billion, study shows
The research on extreme weather in Japan is the latest assessment of how inaction on curbing fossil fuel emissions is rapidly accelerating the cost of recovery and insuring people and property in the paths of more destructive storms The effects of human-caused climate...
Assam flood situation remains grim; over 7 lakh affected
A team of specialists from ISRO is already doing rapid damage assessment in Dima Hasao using drones and satellite data for post-disaster need assessment Guwahati: The flood situation in Assam continued to remain grim on Friday as waters entered fresh areas affecting a...
Part of under-construction tunnel in J-K collapses; 3 rescued, 10 trapped
Several machines and trucks have been damaged in the incident. "Around 10.15 pm on Thursday, the audit tunnel of T3 on the highway near Khooni Nallah in Ramban collapsed, trapping 11-12 labourers of Sarla Company working there," a senior official told PTI....