The parametric insurance market is projected to reach $39.3 billion...
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India and UK to collaborate on developing financial regulations
Participants from India and UK touched upon reforms in respective...
Hacking rooftop solar can disrupt of Europe’s Power Grid
The exponential growth of rooftop solar systems means millions more...
As floods hit western Europe, scientists say climate change hikes heavy rain
In general the rising average global temperature – now about 1.2 degrees Celsius above the pre-industrial average – makes heavy rainfall more likely, according to scientists.
The floods follow just weeks after a record-breaking heatwave killed hundreds of people in Canada and the United States. Scientists have since said that extreme heat would have been “virtually impossible” without climate change, which had made such an event 150 times more likely to occur.
Floods leave at least 108 dead in Europe
Joerg Asmussen, managing director of the German Insurance Association (GDV), said the prevalence of storms, floods, heavy rain and hail in Germany this year could make it one of the most damaging since 2013.
Heavy rain and hail in June caused an estimated insurance loss of 1.7 billion euros ($2 billion), he said by email.
Counting the costs: South Africa uninsured businesses wrecked by unrest
Many of South Africa’s small, medium-sized and micro enterprises (SMME) are not insured, compounding any attempts of recovery of those damaged in the unrest.
South African farmers dream of drought cover on climate front line
Now a plan has been formulated by insurers and the government for a 3.2 billion rand ($223 million), 10-year state subsidy scheme aimed at fixing the market’s problems, according to a South African Insurance Association (SAIA) document seen by Reuters that outlines the previously unreported proposals.
Work from home fueling cyberattacks, says global financial watchdog
“Most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors,” the FSB said in a report to G20 ministers and central banks.The report is a first take on lessons learned from the pandemic’s impact on financial stability.
Seafarers’ slow Covid-19 vaccinations endanger maritime workers, hit global trade
The shipping industry is sounding the alarm as infections increase and some ports continue to restrict access to seafarers from developing countries that supply the majority of maritime workers but can’t vaccinate them.
IAEA breaks ground for new facility to help countries tackle nuclear terrorism
The Centre will provide more than 2000 square meters of specialized technical infrastructure and equipment. Hands-on training will be conducted on demonstration systems and virtual reality environments. These platforms will emulate security systems used at nuclear power plants, research reactors and border crossings.
Participants will practice procedures on access and alarm controls, inspect physical protection systems, better understand computer security risks, and learn how to sweep an area for radioactive material during major public events, among other activities. Exercises at the training centre will also strengthen capabilities in radiological crime scene management and nuclear forensics.
Strong rise in political risk globally:Coface Political Risk Index
Inflationary risks have been in the news in recent months. In this context, the annual update of the Coface Political Risk Index shows a strong rise in political risk across the world, and particularly in the emerging countries. Indeed, figures show a deterioration in living standards and purchasing power, as well as a rise in inequalities observed following the COVID-19 crisis. At this stage, these conditions are not necessarily leading to popular uprisings, which remain limited by people’s capacity to mobilise.
Risk Control 2030: A look at the future and reflections of the past
Considering climate change, pandemic identification and control, years of environmental abuse, and rapidly increasing chemical development, the safety professional is ensured a prominent position in the future world.
Olympics-Risk of COVID spread is ‘zero’, IOC chief says, amid rising cases
Just over a week before the July 23 opening ceremony, Tokyo reported 1,308 new COVID-19 infections on Thursday, its highest daily tally since late January. Postponed last year due to the COVID-19 pandemic, the Summer Olympics have little public support in Japan amid widespread fears about a further spread of the coronavirus.
Critics on Thursday submitted a petition against the Games that has garnered more than 450,000 signatures this month, Japanese media reported. Organisers have imposed Olympics “bubbles” to prevent further transmissions of COVID-19, but medical experts are worried they might not be sufficiently tight.