The impact would, of course, be huge. Insurers estimate a $300...
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Hurricane Debby: Moody’s estimates insured losses for will not exceed $1.5 billion
Jeff Waters, director, North Atlantic Hurricane Models at Moody’s,...
Severe typhoon set to disrupt flight, train services in Japan
Disruptions from tropical storms this time of year have become an...
Risky business: Climate change turns up the heat on insurers, policyholders
Given the momentum, it is no surprise that traditional models cannot keep up, Bruce Carnegie-Brown, chairman of insurance market Lloyd's of London told Reuters. "If you’ve reached an exponential part of the curve where suddenly, something’s accelerating, it’s almost...
Flooding: more likely, more extreme and more unpredictable
-Unprecedented weather patterns are challenging the flood risk landscape, which was previously well defined by government and historic records-Many flood damages occur outside of mapped river floodplains, and companies outside larger hazard zones can still be affected...
New framework for climate-vulnerable countries reengineers approach to financing nat cat response
The framework is adaptable and scalable across multiple developing countries to address climate-exacerbated natural hazards and weather perils including drought, flooding tropical cyclones, convection storms, and wildfire London: The Insurance Task Force (ITF) as part...
PM Modi launches ‘Infrastructure for Resilient Island States’ for most vulnerable countries impacted by climate change
Glasgow: India on Tuesday launched an ambitious initiative for developing the infrastructure of small island nations, with Prime Minister Narendra Modi saying it will give a new hope, a new confidence and satisfaction of doing something for the most vulnerable...
Low pressure area moves to Gulf of Kutch, may intensify into cyclonic storm in Arabian Sea: IMD
Heavy rainfall is expected for the next two days in the coastal districts of Jamnagar, Porbandar, Dwarka and Kutch, it said, and asked fishermen not to venture into the sea.
“It is then very likely to move further west-northwestwards and intensify into a cyclonic storm during the subsequent 24 hours. Thereafter, it is likely to continue to move west-northwestwards towards Pakistan-Makran coasts, moving away from the Indian coast,” the IMD said.
Govt ready with the blueprint to manage disasters in India: Amit Shah
Now, the government has also prepared a plan to integrate all the agencies and departments, even the smallest of the units. Whether it is a small village or a big metro city or a remote district, or a coastal city, every place has a plan ready to respond to the disaster.
The change in approach has yielded very good results, the 1999 cyclone alone killed 10,000 people and this year there have been three cyclones but the death toll is not more than 50.
Cyclone damages Indian crops just before harvesting
“Within a week the cotton production outlook changed. We were expecting higher yields, but now yields will go down and even the quality of harvested crop would be inferior at the beginning,” Chirag Patel, chief executive at Jaydeep Cotton Fibers Pvt Ltd, a leading exporter. said.
Farmers have expanded areas under soybean, but rainfall is limiting the rise in production, said Davish Jain, chairman of the Soybean Processors Association of India.
Researchers find double benefit of climate protection through both limiting, delaying global warming
In the study, the scientists analysed the joint impacts of demographic development and climate change on people exposed to tropical cyclones — and found that timing of when certain warming levels are reached becomes crucial. The results are even more obvious on the country level, explained Johannes Gutschow.
“Our model shows, with unprecedented detail, that in 2050 all countries at high risk of tropical cyclones are projected to see a rise in exposure. Due to the projected population growth, we found exposure changes of nearly 300 per cent in some East African countries, up to 100 per cent in the US and also a strong increase for the Arabian Peninsula.”
China encourages mainland insurers to sell catastrophe bonds in Hong Kong
Mainland property and casualty insurance companies and reinsurance companies can set up special-purpose entities in Hong Kong to raise funds from bond sales, according to a statement of the China Banking and Insurance Regulatory Commission (CBIRC).
The arrangement can help diversify insurers’ losses from natural disasters such as earthquakes, floods and typhoons, it said.
UN development arm launches disaster insurance programme
The facility will also have funding from other sources, including the UNDP itself, a spokesperson said. The UNDP is aiming to help create insurance protection from socio-economic, climate and health-related disasters in more than 50 developing countries by 2025, it said.
“Insurance and risk-finance products, tools and services can secure our critical infrastructure, protect our agriculture and businesses, and preserve critical ecosystems that make life on earth possible,” said UNDP Administrator Achim Steiner.