Disaster & Management

Germany, Global Parametrics and Hannover Re unvel a new Natural Disaster Fund Deutschland

International News       Dec 09, 2019

  Madrid: Global Parametrics (GP), the provider of parametric protection against climate risks in developing markets and the German Federal Ministry for Economic Cooperation and Development (BMZ), in partnership with the German Development Bank (KfW) and Hannover Re jointly announce the formation of the Natural Disaster...

Cyclone Bulbul's total economic losses estimated at over $3.3 bn:Aon

International News       Dec 06, 2019

. Chicago: Aon plc’s monthly Global Catastrophe Recap report reveals that flooding and inland storms led to multi-billion-dollar economic loss in western and southern Europe during the month.   Italy suffered the majority of losses as an active stretch of cyclonic weather resulted in significant flooding...

Nuclear plants in country safe: Government

Indian News       Nov 28, 2019

  NEW DELHI: The government on Thursday assured the Rajya Sabha that nuclear plants in the country are absolutely safe and steps have been taken to ensure their safety after a "malware infection" was reported in the administrative network of the Kudankulam Nuclear Power Plant.   "Let...

Pravin Kutumbe,member,IRDAI,addressing ``RIMS India Risk Forum 2019'' in Mumbai on Friday

Cyber attacks top the India Inc's risk chart: Marsh & RIMS Survey

Indian News       Nov 22, 2019

  Mumbai: For the second consecutive year,  a survey ``Excellence in Risk Management India 2019’’ by Marsh and  the US based RIMS, the risk management society, ranked cyber-attacks  as the number one critical risk facing  their organisations, with extreme weather events a distant second.   The survey...

Indonesia starts insuring state assets after year of disasters

International News       Nov 22, 2019

  Jakarta: Indonesia’s government and a consortium of 56 insurance companies signed on Friday the first contract to protect state assets against disasters in the seismically active Southeast Asian country.   The contract will provide cover for buildings valued at around $770 million and comes after a...

Climate impacts to cost world US$7.9 trillion by 2050: report

International News       Nov 20, 2019

  Paris:  Climate change could directly cost the world economy US$7.9 trillion by mid-century as increased drought, flooding and crop failures hamper growth and threaten infrastructure, new analysis showed Wednesday.   The Economist Intelligence Unit's (EIU) Climate Change Resilience Index measured the preparedness of the world's 82...

Cyclone Bulbul makes landfall, 2 dead

Indian News       Nov 10, 2019

Kolkata/Bhubaneswar: Severe cyclonic storm 'Bulbul' made landfall Saturday midnight between Sagar Islands of West Bengal and Khepupara in Bangladesh, hurtling northeastwards into the neighbouring country over the Sunderban delta, with two deaths reported in its wake.   The system, which made landfall as a severe cyclonic...

Japan to suffer minimum $10bn economic loss from Typhoon Hagibis, according to Aon catastrophe report

International News       Nov 07, 2019

                                     CHICAGO: The latest Catastrophe Recap report by  Aon Plc reveals that Typhoon Hagibis made landfall in Japan’s Iza Peninsula on October 12 before later sweeping through the greater Tokyo metro region and the total economic losses were expected to exceed $10 billion, with insured losses...

Underwater volcanic eruption creates new bigger island in Tongan archipelago

Facts       Nov 07, 2019

  Nuku'alofa (Tonga):  An undersea volcanic eruption in the Tongan archipelago has sunk one island and created another three times larger, according to a report by geologists released Thursday.   Taaniela Kula, of the Tonga Geological Service, said the new Lateiki island is estimated to be about...

Wall Street increasingly weighs risk from climate change

International News       Nov 06, 2019

NEW YORK: In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency. Investors, analysts, research firms and companies are putting more emphasis on how climate issues ranging from rising sea levels...

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