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Nvidia unveils AI tools and models for faster weather forecasting
Mike Pritchard, the director of climate simulation research for...
Budget-26-27:Improving insurance affordability and access
Recent policy measures, such as the exemption of insurance premiums...
Firefighting efforts intensify aboard Singapore vessel after explosion off Kerala coast
"Around 40 per cent of the fire has now been brought under control. The vessel remains afloat but unmanned and is slowly drifting southeast in the Arabian Sea," according to updates shared by the Director General of Shipping. Kochi/Mumbai: Indian Coast Guard and other...
EU proposes ban on Nord Stream gas pipeline, reduction of oil price cap
EU firms are involved in an array of service provision for Russia that’s legal under the cap at current prices but wouldn’t be at $45. That includes use of the large Greek oil-tanker fleet, as well as insurance and reinsurance that’s provided by different firms across...
Rise of autonomous vehicles to impact $400 billion US auto-insurance industry, says Goldman Sachs
“Autonomy has the potential to significantly reduce accident frequency longer-term and reshape the underlying claim cost distribution and legal liability for accidents,” Goldman Sachs analysts including Mark Delaney wrote in a June 9 note to clients The rise of...
Beazley hires a new parametric insurance head
Stefan Wunderlich,head of Parametric Insurance Beazley has a long-term commitment to the property market, having trebled the size of its property underwriting since 2022. This commitment has seen it build a strong position in the US E&S market, roll out specialist...
Fire erupts on Singapore-flagged container vessel off Kerala coast; 18 rescued, 4 missing
The 270-metre-long vessel, with a draught of 12.5 metres, had left Colombo on June 7 and was en route to Mumbai, expected to arrive on June 10 Kochi: A major fire broke out on board a Singapore-flagged ship after a container explosion off the Kerala coast on Monday,...
Strengthening early warning systems and coordination crucial for disaster resilience: PM Modi
Narendra Modi, Prime Minister Prime Minister Modi underscored that disaster resilience requires innovative financing and called for the creation of actionable programs to ensure developing nations have access to necessary funds as the third priority New Delhi:...
India’s billion-dollar infra projects face extreme weather test
India is ranked sixth among countries most affected by extreme weather, according to the 2025 Climate Risk Index report by Germanwatch. The world’s fastest-growing major economy has experienced more than 400 extreme weather events over three decades ending 2022, which...
Govt and GIC Re are in talks to set up an exclusive mega Pool to reinsure country’s all hydropower plants
N Ramaswamy, CMD, GIC Re ``Currently, due to the huge catastrophic risks involved, there is very limited reinsurance capacity available for hydro power plants. More often, catastrophic covers are sub-imited. With climate risks and rising frequency and...
Burning cargo ship carrying 3,000 vehicles abandoned off Alaska
Smoke was initially seen rising from a deck loaded with EVs, the company said. It is not clear what brand of vehicles the ship was carrying. EV-related fires on ships are challenging to extinguish due to the heat generated and risk of reignition, which could persist...
14–19 named storms in tropical North Atlantic predicted in this year hurricane season
These numbers are slightly above the long-term average for 1950 to 2024 (12.5 named storms, 6.5 hurricanes and 2.6 severe hurricanes) and are in line with expectations for the cyclical warm phase in the North Atlantic since the mid-1990s (15.8 tropical storms, 7.8...