The world is getting warmer and natural hazards are becoming more intense, likely bringing higher economic losses in the future. Today, four major weather perils result in expected economic losses of USD 200 billion annually. With more severe weather coming, economic losses are set to rise. The study analysis finds …
Total economic losses from natural and man-made disasters have soared by 63 percent to strike an estimated $306 billion in 2017, reinsurance firm Swiss Re said Wednesday. "The US was hardest hit, including by hurricanes Harvey, Irma and Maria, which have made 2017 the second costliest hurricane season" after 2005, …
This report provides the first bottom-up assessment of countries’ articulated demands over climate risk insurance in their climate policy pledges as part of the Paris Agreement. It is the result of a collaboration between the Munich Climate Insurance Initiative (MCII) and the German Development Institute (GDI/DIE). In conjunction with the …
This technical brief describes efforts to develop remote sensing products for index-based flood insurance (IBFI) that can accurately depict yield loss due to adverse weather and other disasters on smallholder farms, with a particular attention to IBFI as a tool for reaching the most socially vulnerable populations. The overarching goal …
Internationally subsidised agricultural insurance is intended to protect farmers in developing countries from the effects of climate change. However, it can also lead to undesirable ecological and social side effects, as UFZ researchers and their US colleagues at the University of Oregon have explained in a review article in the …
WASHINGTON (Reuters) - The U.S. federal flood insurance program estimates it will make $11 billion in payments through the government-run program for flooding in Texas caused by Hurricane Harvey, the program’s administrator Roy Wright said on Wednesday. Additionally, in an attempt to make those payments more quickly, homeowners who do …
Southern Africa is set to establish a regional risk insurance scheme aimed at improving its rapid response to natural disasters. Risk financing and insurance is one of the several measures that most countries and regions around the world use to limit the impact of disasters such as droughts and floods. …
The Centre for Science and Environment welcomed the top court decision and said that it can have far reaching impact on curbing air pollution. New Delhi: In a bid to curb pollution, the Supreme Court on Thursday issued a slew of directions including that insurance companies will not renew insurance …
Insurance is an underused way to help save lives in natural disasters and soften their impact on the poorest countries - and it needs to be better understood by governments and aid groups, said insurers, aid experts and government ministers on Thursday. About 1.5 million people have died in natural …
For pastoralists like Jilo Datecha, the persistent drought afflicting southern Ethiopia’s Borena zone has made the prospects for earning a living grim. The semi-arid landscape of bushes and acacia trees, with no running rivers for hundreds of kilometres, makes for a precarious life for the pastoralist and semi-pastoralist communities who …
LILONGWE-(MaraviPost)- The Malawi Government made the wrong risk in purchasing the US$5 million Insurance from African Risk Capacity (ARC) to cover for the 2015/2016 el-Nino impact, with revelation that the insurance proceeds were too late and too little to avert the situation, The Maravi Post has learnt. This has prompted …
Taking out insurance to protect against climate risks is the "wrong model" for improving countries' ability to cope and may even be worsening inequality and vulnerability, a leading development charity said on Wednesday. A policy taken out by Malawi cost the drought-ridden southern African country $5 million but failed to …
The G7-backed African Risk Capacity (ARC) drought insurance policy was an experiment that failed Malawi, and in particular its women, in the face of a drought that need not have become a disaster. The insurance, for which Malawi paid US$5 million (m), failed to deliver on its promise of timely …
Rabat – The World Bank 2017 Economic Memorandum has unveiled that more than 25 percent of Moroccans do not have access to medical care, exposing the inefficiency of insurance plans. The World Bank painted a bleak picture of the healthcare in Morocco in the current year’s Economic Memorandum. The report …
INSURANCE group, Zimnat has paid out in excess of $2 million in weather related damage claims in the four months to March 2017 following high rainfall across the country. During the rain season, incidents of damage to property, road traffic accidents as well as livestock and crop damages escalated, subsequently …
The Kenya Livestock Insurance Programme (KLIP) will pay pastoralists in six counties affected by drought Sh214 million to cover their herd losses. Announcing the payout plan Monday, Agriculture Cabinet Secretary Willy Bett said 12,000 pastoral households, mainly from arid and semi-arid areas, will benefit. The insurance programme, which was initiated …
This report summarizes the economic and insured losses from the most relevant natural catastrophe events that occurred during 2016. The loss values presented include those reported by Willis Re, catastrophe model vendors, reinsurance companies and third party organizations. The insured loss estimates from major natural catastrophes in 2016 of about …
Major atmospheric-driven catastrophes, such as hurricanes and floods, may appear to be independent events when looked at historically. Yet it is well established in climate science that regional weather and climate conditions in one part of the world can have impacts on other parts. It is important for insurers and …
The collection, analysis and distribution of reliable weather, water and climate information— collectively referred to as climate and weather services—has the potential to greatly benefit efforts by African nations to reduce poverty, build resilience and adapt to a changing climate. For over 30 years, the international development community has made …
The collection, analysis and distribution of reliable weather, water and climate information— collectively referred to as climate and weather services—has the potential to greatly benefit efforts by African nations to reduce poverty, build resilience and adapt to a changing climate. For over 30 years, the international development community has made …
This year’s World Disasters Report focuses on resilience within humanitarian action. The report explores the different meanings of resilience, as well as criticisms, and its application both before and after crises. It considers how resilience is measured, and the importance of building evidence. The report examines the ‘business case’ for …
