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,...
Australia to contribute 10 million dollars to India’s initiative towards disaster-resilient infrastructure
“Australia will contribute 10 million dollars to India’s initiative towards disaster-resilient infrastructure. We’re exploring further collaboration with India, including on low emission technologies, ensuring economic growth as we transition to a clean energy future,” she said.
Prime Minister Narendra Modi had announced a global Coalition for Disaster Resilient Infrastructure (CDRI) at the UN Climate Action Summit held in New York in September 2019.
After 9/11, one student’s mission became healthcare for all disaster victims
Years later, she understood the full health impact of 9/11 as some fellow students got cancer and her own asthma worsened, she said. Many first responders and those in the area who survived the initial destruction of the World Trade Center later developed diseases that have been linked to the toxic dust that was stirred up. In 2006, Nordstrom started StuyHealth, an advocacy focused on helping young adults get access to the same healthcare that first responders received.
From locusts to cyclones: the human cost of interlinked disasters
The huge locust swarm which hit the Horn of Africa in the Spring of 2020, and Cyclone Amphan, which struck the border region of India and Bangladesh in May that year, might not seem, on the face of it, to be connected, but a report released on Wednesday by UN University, the academic and research arm of the UN, shows that there were connected underlying causes: greenhouse gas emissions from human activity, which are affecting the environment in unpredictable ways, and a lack of sufficient disaster risk management.
‘It’s connected to you’: Shared causes fuel surge in disasters
From Arctic heat and wildfires to Texas cold-weather power outages and Amazon deforestation, threats around the world that may seem unrelated are increasingly compounding each other, United Nations researchers said in a report released Wednesday.
The underlying causes of the rising risks – from climate change to lack of cooperation among governments and ignoring the value of nature in economic decision-making – are common across many of them, researchers said.
At least 50 missing after boat capsizes on Brahmaputra in Assam
Jorhat district police chief Ankur Jain said that the police and the disaster management personnel located the capsized boat about 350 metres from the riverbank.
“We have rescued around 20 people on board the boar from various places downstream. However, around 50 people are missing till late evening,” he told the media adding that the searches for the missing people are on.
Trinidad and Tobago receives $2.4 million parametric payout as excess rainfall claims
Due to different hazard risk profiles for each of the islands in the twin-island republic, the Government purchases two separate CCRIF policies for excess rainfall – one for Trinidad and one for Tobago. This payout is being made on the excess rainfall policy for Trinidad.
Since Trinidad and Tobago purchased coverage for excess rainfall in 2017, the country has received payouts under its excess rainfall policy each year – five payouts totalling US$12.5 million. The Government of Trinidad and Tobago also has cover for tropical cyclones (one policy for Trinidad and one for Tobago) and for earthquakes.
$25–$35 billion insured losses in Gulf of Mexico from hurricane Ida: RMS
Losses reflect property damage and business interruption to residential, commercial, automobile, industrial, infrastructure, marine cargo and specie, watercraft, and other speciality lines of business, along with post-event loss amplification (PLA) and non-modeled sources of loss.
Marsh launches Flood Risk Index, Indonesia,Brazil,India,Russia and Mexico most vunerable
Over 2.2 billion people are exposed to flooding globally.1 Since 1980, over 4,500 flood disasters resulted in over $1 trillion in damages, accounting for 40% of natural catastrophe losses globally.
The five G20 countries with the largest shares of population and economic assets exposed to flooding are:China,India,Argentina,Russia,Germany
In the event of flooding, the five G20 countries where people and economic assets are most vulnerable to harm are:Indonesia,Brazil,India,Russia,Mexico
Weather disasters becoming more frequent and costly, UN agency says
“Thanks to our early warning service improvement we have been able to have a decrease of the casualties at these kind of events, but the bad news is that the economic losses have been growing very rapidly and this growth is supposed to continue,” WMO Secretary-General Petteri Taalas told a press conference.
“We are going to see more climatic extreme because of climate change and this negative trend in climate will continue for the coming decades,” he said.
Hurricane Ida lashes Louisiana, knocking out power in New Orleans
U.S. President Joe Biden declared a major disaster in Louisiana, ordering federal assistance to bolster recovery efforts in more than two-dozen storm-stricken parishes. Ida slammed ashore around noon near Port Fourchon, Louisiana, a hub of the Gulf’s offshore energy industry, blasting the coast with hurricane-force winds extending 50 miles (80 km) out from the eye of the storm. Landfall came 16 years to the day after Hurricane Katrina, one of the most catastrophic on record, struck the Gulf Coast.