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Nepal Catastrphe: GIC Re’s losses limited as other international reinsurers take the hit
“Nepal’s non-life insurance market relies heavily on global...
67 vulnerable glacial lakes identified in Himachal; early warning systems planned for four in Kinnaur, Lahaul-Spiti
Given increased exposure to GLOFs, flash floods, cloudbursts,...
NGT asks UP dept to take action against ‘illegal’ groundwater extraction in Noida, Greater Noida
The order comes against the backdrop of growing concern over India's rapidly shrinking groundwater reserves. India is the world's largest user of groundwater, accounting for roughly a quarter of global extraction. New Delhi:The National Green Tribunal (NGT) has...
Iran reasserts its right to control shipping in Strait of Hormuz after ship hit near Oman
"Safe passage through the Strait of Hormuz cannot be guaranteed under ambiguous arrangements, parallel routes or decision-making that does not take Iran's role as a coastal state into account," Deputy Foreign Minister Kazem Gharibabadi said on X. DUBAI/LONDON: Tehran...
India’s Renewable Energy Sector:Need to invest in climate resilience
The report by Zurich Kotak General Insurance and Zurich Resilience Solutions finds that nearly 90% of the planned renewable energy generation capacity across India is likely to face high or critical risk exposure, i.e. a ~15% to 30% chance of experiencing a major...
Reopening of Strait of Hormuz to lower tail risk, but supply normalisation to be costly: S&P
S&P said South Asia is especially exposed to second-order risks of the West Asia conflict.India is the world's largest urea importer and relies heavily on Gulf suppliers, India is the world's largest urea importer and relies heavily on Gulf suppliers, while...
MS Amlin joins Natural Disaster Fund as capacity provider
The NDF is a blended risk transfer vehicle designed to mitigate climate-related challenges and build resilience for low-and-middle-income countries and currently has a portfolio of more than $100m of risks. LONDON: MS Amlin, the Lloyd’s global specialist (re)insurer,...
Twin powerful quakes devastate Venezuela; Death toll rises to 164, nearly 1,000 injured
Wednesday evening’s 7.2 and 7.5 magnitude earthquakes were among the strongest to strike Venezuela in more than a century and could be felt throughout the region. The country's main airport was damaged and closed, while buildings were evacuated in places as far away...
RBI proposes guidelines for banks to manage AI risks
Banks should establish human oversight for AI models used in automated decision-making, the draft guidelines said.For generative AI models that interface with customers or external users, additional cybersecurity controls should be implemented. MUMBAI: India's...
Allianz warns of significant marine claims from Iran conflict
“Clearly, loss of life and property damage – in terms of both vessels and their cargo – are the main causes to date,” said Regis Broudin, global head of marine claims at Allianz Commercial. The insurance industry is set to face significant claims for ships that were...
Warming Pacific fuels fears of powerful El Niño event
El Niño is a naturally occurring climate phenomenon that can cause drenching rains in one part of the world and drought in another. Scientists identify it by looking at deviations in temperature levels in the Pacific Ocean, most commonly in a region known as Niño 3.4....
46 drug samples manufactured by various firms to be “not of standard quality
Identification of drug samples as NSQ is done based on failure of the drug sample in one or the other specified quality parameters. The failure is specific to the drug products of the batch tested by the government laboratory and it does not warrant any concerns on...