The current El Niño event began in mid- to late 2023, causing the...
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Insurance Development Forum commits $ 900,000 for risk modelling
``2023 witnessed significant progress across all three pillars –...
Over 500 relocated to safety as sinking land threatens homes in Ramban, J-K
A total of 100 households were affected as 58 houses got completely...
European satellites could help catch the next climate change disaster
The new climate models also have the potential to help investors make better decisions. Storms, fires and floods killed at least 8,200 people and cost the world $210 billion in insured losses in 2020, according to a report published this month by Munich Re. Those damages could swell as the world inches closer to crossing the 1.5 degree Celsius warming threshold that scientists predict will lead to more frequent superstorms and higher sea levels.
35 Killed, hundreds injured after strong Quake in Indonesia’s Sulawesi
The powerful quake struck 6 km (3.73 miles) northeast of the town of Majene, at the relatively shallow depth of 10 km, just before 1.30 a.m., sending thousands of frightened residents out of their homes and fleeing for higher ground.
The earthquake and aftershocks caused three landslides, cut electricity, damaged bridges to regional hubs such as the city of Makassar, and damaged more than 60 homes, two hotels and the provincial governor’s office, where at least two people were buried under rubble, authorities said.
Initial information from the national disaster mitigation agency showed that 637 people had been injured in Majene, and two dozen in Mamuju.
No tsunami warning was issued but the head of Indonesia’s Meteorology and Geophysics Agency (BMKG), Dwikorita Karnawati, told a news conference that aftershocks could follow, with a possibility that another powerful quake could trigger a tsunami.
Kerala suffered Rs 1.56 lakh crore revenue loss due to COVID pandemic and lockdown:Finance minister Isaac
Kerala Finance Minister T M Thomas Isaac, who tabled the Left government’s Economic Review 2020 in the state assembly, a day ahead of the state budget,said natural disasters including Cyclone Ockhi of 2017, two consecutive floods of 2018, ’19 and the pandemic affected the state’s economy along with the return of non-resident Keralites (NRKs) from abroad, mostly following job loss.
Indonesian divers retrieve flight recorder from Jet crash
The black boxes will provide more information on what caused the plane to plunge more than 10,000 feet in a matter of seconds. Both pilots in command of Sriwijaya Air Flight 182 were experienced and the airline has a solid safety record, with no fatal accidents since it was founded in 2003. The 737-500 model itself also has a good safety record.
Natural disasters cause $210 billion in damage in 2020, insurer says
Losses that were insured rose to $82 billion from $57 billion in 2019, Munich Re said. They add to the burden of the coronavirus pandemic that has hit the insurance industry hard.
“Climate change will play an increasing role in all of these hazards,” said Munich Re board member Torsten Jeworrek, pointing to hurricanes, wildfires and other storms.
“It is time to act,” he said.
Final industry loss footprint for Australia’s 2019/2020 Bushfires at AUD 1,866m: PERILS
“One year on from the Black Summer bushfires, this release of the final loss report provides a timely reminder of the devastation such an event can cause to local
communities. This was one of several major Cat events to impact Australia in 2020, with the insurance industry playing a critical role in enabling affected communities to rebuild during the year. The detailed data resolution in this updated industry loss footprint can enhance the insurance industry’s understanding of the impact of future bushfire events as there is always more to learn about these devastating losses.”
Wildlife, land-use change and health infra: Scientists identify ways of preventing next pandemic
Following several multidisciplinary studies in 2020, scientists now firmly believe a “perfect storm” for an outbreak with pandemic potential is created by the combined forces of land-use change, high population density and the presence of interfaces between wildlife and domestic animals.
IOC to buy 15 hydrogen buses for Delhi, first-ever attempt in the country to use hydrogen-based mobility as green option
The country’s largest oil refiner and fuel retailer are also setting up a facility at its Faridabad research and development (R&D) centre to produce hydrogen to run the buses, the company said in a statement.
Launch of the first parametric tropical cyclone insurance product in Africa
The African Risk Capacity (ARC) Group(ARC) has developed a model capable of correctly estimating the risk and economic losses resulting from tropical cyclones, which is suitable for SOOI countries, such as Mozambique, Madagascar, Comoros, Mauritius, Seychelles and Tanzania.
“Our goal is to continue to diversify our insurance product offering in order to effectively meet the needs of our Member States. This new offer will allow our Member States to better anticipate and manage extreme weather events while ensuring that the impact of such events on the population is mitigated, ” said Ibrahima Cheikh Diong, Deputy Secretary General of the United Nations. and Chief Executive Officer of the Panafrican Mutual of Risk Management Group ( ARC Risk Capacity Group ).
Gas leak in AP unit operational negligence, says NGT; directs safety audit of pharma units
A bench headed by NGT Chairperson Justice Adarsh Kumar Goel held that the cause of Benzimidazole gas leakage at Sainor Life Sciences factory at Parwada industrial area was operational negligence of the management and its employees,
There were serious lapses in not following standard safety norms under the said rules requiring onsite and offsite emergency plans, conducting mock drills every six months and undertaking manufacture of Benzimidazole without consent.