Climate change directly impacts inflation through adverse weather...
Category:
Disaster & Management
Latest
IMD using AI machine learning to enhance weather forecasts: Director general
"We aim to provide forecasts at the Panchayat or village...
Baltimore shipping set to resume by end of April with full capacity by end of May
The Port of Baltimore ranks first in the United States for the...
Global annual average Cat losses rise almost 8 times to $ 200 billion in 50 yrs:Study
The quality of recovery for very high and high insurance penetration countries is better than pre-loss levels, and the reverse is true for countries with lower insurance penetration although the differences are quite small. There is potential for product development in terms of “building back better”.
COVID-19 “not a capital event”, 3% decline in global reinsurance capital in the first half of 2020: Willis Re
Total capital dedicated to the global reinsurance industry was USD 587 billion at 30 June 2020, combined ratio worsened from 94.9% in the first half of 2019 to 104.1%, due to COVID-19 losses which added 11.1 percentage points to combined ratios on average. However, on an underlying basis i.e. normalising COVID-19 and catastrophe losses and excluding prior year reserve development, the combined ratio improved from 100.5% to 98.6%.
James Kent, Global CEO, Willis Re, said: “This half-year analysis shows a reinsurance market understandably in a state of change. While reinsurers have so far resiliently shouldered the combined effects of COVID-19 losses and investment market volatility, underlying profitability remains challenging. Uncertainty therefore remains, particularly over the potential impact of COVID-19 on long-tail lines, which is driving reinsurers to deliver additional improvement in underwriting returns. We expect to see further reinsurance market discipline as well as continued differentiation between regions and clients based on past performance and underlying risk.”
Learned from COVID-19 Pandemic to mitigate the risks of Climate Change?
The work to promote resiliency in the face of climate change must be collective in nature, with the insurance industry having an important role to play. Better risk transfer solutions and a higher take-up rate of insurance across communities means a faster recovery. The insurance industry has an advanced understanding of climate risk and extreme events, and its modelling, analyzing and forecasting capabilities offer vital insights to other participants in the resilience ecosystem, helping them better comprehend the risks, identify potential weaknesses and plot a course toward prevention.
COVID-19: India reports 89,706 fresh cases; death toll rises to 73,890 with 1,115 fatalities
The COVID-19 case fatality rate has further dropped to 1.69 per cent.
There are 8,97,394 active cases of COVID-19, which is 20.53 per cent of the total caseload in the country, the data stated.
Climate change may cause 26% habitat loss for snow trout in Himalayan rivers: Study
The study says mountain systems across the globe are conspicuously sensitive to on-going climate alterations and the condition is much more detrimental in the Himalaya, where the rate of warming, and thus the glacier meltdown, is much higher than elsewhere.
The study reiterates that if the countries across the globe continue their greenhouse emissions as usual (mentioning it as the ‘business-as-usual scenario’), “the species (snow trout) would lose a net habitat of 16.29% till the year 2050 which would further increase to 26.56% in the year 2070.”
“As it stands, the snow trout faces serious threats due to river valley modifications, destructive fishing practices and exotic salmonid introductions,” it says.
India reports record daily jump of 95,735 Coronavirus cases
In the last 24 hours, 95,735 new infections were detected, with 1,172 deaths accounting for the highest single-day mortality figures in more than a month, to push the toll beyond 75,000.
The COVID-19 fatality rate has further dropped to 1.68 per cent while the recovery rate was recorded at 77.74 per cent
There are 9,19,018 active cases in the country which comprise 20.58 per cent of the total caseload, the data stated
India records highest Coronavirus deaths in more than a month
According to the Indian Council of Medical Research, the number of tests conducted for detection of COVID-19 in India has reached 5,06,50,128 with 10,98,621 samples being tested on Monday.
British entertainment, left in dark, seekss government insurance help
“You’re not going to get a sponsor, full-house ticket sales, finance, TV licensing or big stars unless they are guaranteed,” said James Davies, head of contingency and entertainment at insurance broker EC3.
Wildfires rage in California, stoked by extreme heat in U.S. West
The blaze, growing under “extreme weather conditions,” had devoured nearly 79,000 acres (32,000 hectares) of land, while a cause remained under investigation, the California Department of Forestry and Fire Protection (CalFire) said in a statement.
India’s COVID-19 infection tally crosses 42 lakh
1,016 fatalities being reported in a span of 24 hours
The COVID-19 case fatality rate has further declined to 1.70 per cent.
There are 8,82,542 active cases of the infection in the country which comprises 20.99 per cent of the total caseload, the data stated.
According to the ICMR, a cumulative total of 4,95,51,507 samples have been tested up to September 6 with 7,20,362 samples being tested on Sunday.