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 …
The White House has begun an aggressive campaign to use approaching Supreme Court arguments on the new health care law as a moment to build support for the measure seen as President Obama’s signature legislative achievement, hoping to shape public opinion on an issue at the center of the battle …
Insurance commissioners in California, New York and Washington State will require that companies disclose how they intend to respond to the risks their businesses and customers face from increasingly severe storms and wildfires, rising sea levels and other consequences of climate change, California’s commissioner said Wednesday. Up until this point, …
Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, said Munich Re, the world's biggest reinsurer. The cost to insurers from the earthquake and tsunami in Japan in March, which caused nearly 16,000 deaths, was estimated at …
Agrarian Services and Wildlife Minister S M Chandrasena said that, the government has allocated around Rs 1,120 million for the protection of wild elephants in budget 2012. The ministry has drawn up a plan to launch a sustained programme to protect elephants with immediate effect, he said. The budget has …
Almost four years have passed since the government introduced the National Agriculture Insurance Scheme (NAIS) in the state to assist the farmers suffering losses due to natural calamities like rains, floods and droughts. However, there is just one man handling the implementation work in the entire Jammu region with 10 …
The technical guide is intended as a practical reference tool to guide IFAD, WFP and other donors’ country programme management staff through the steps of implementing a Weather Index-based Insurance programme. It is based on the recognition that weather index-based insurance represents an increasingly viable approach to help smallholder farmers …
Wildfires are raging across central Texas, compounding drought that has caused $5.2bn in agricultural losses and led ranchers in the largest cattle-producing US state to rush to slaughter. At the weekend, the Texas Forest Service responded to 63 new fires, many fanned by winds from tropical storm Lee. Texas has …
Hurricane Irene will most likely prove to be one of the 10 costliest catastrophes in the nation’s history, and analysts said that much of the damage might not be covered by insurance because it was caused not by winds but by flooding, which is excluded from many standard policies. Industry …
Global foreign direct investment (FDI) has not yet bounced back to pre-crisis levels, though some regions show better recovery than others. The reason is not financing constraints, but perceived risks and regulatory uncertainty in a fragile world economy. The World Investment Report 2011 forecasts that, barring any economic shocks, FDI …
Tropical Storm Don, the first major Gulf of Mexico storm this year, formed over the southern part of the oil-rich basin on Wednesday on a track toward the Texas coast. The storm forced several offshore energy operators to evacuate support workers, but was not yet strong enough to cause companies …
The biggest struggles in the recent past might have been surrounding land and land acquisition, but risk mitigation through an insurance cover is still a far cry. Thus, in case Tata Motors bids adieu to Singur, where the government passed a Bill to take back the land it had earlier …
New Delhi After the deadly earthquake and a following tsunami in Japan caused a damage of $309 billion, India has started work on rules that will make it mandatory for at least 13 major ports to have insurance. While major ports in India have been indifferent to preventing the financial …
With a view to giving social security to fishermen engaged in fish farming, accidental insurance is being done for them and their families. A total 1 lakh 98 thousand 122 fishermen and family members have been covered under group insurance scheme. This figure is just doubled as compared to the …
This paper, which was developed in collaboration with The Energy and Resources Institute (TERI), is aimed at proposing the improvement of clean development mechanism (CDM) in the cement sector based on the experience through the implementation of capacity building while describing the recent information and identifying issues and challenges in …
THIRUVANANTHAPURAM: Work on a model fishing village scheme started with an outlay of Rs.200 crore in the current financial year will be completed within five years, Finance Minister T.M. Thomas Isaac has said. In his budget speech in the Assembly on Thursday, Dr. Isaac saidall fish workers would be enrolled …
Sri Lanka's Fisheries and Aquatic Resources Ministry has launched a new insurance scheme for fisher families. Under the new scheme, the family of any fisherman who meets with an accident or any other issue at sea would be paid a sum of Rs. 100,000. Fisheries Minister Dr. Rajitha Senarathna says …
Insurers are struggling to assess the risks from climate change, industry officials say, with the floods in Australia and Brazil highlighting the potential losses from greater extremes of weather. Scientists say a warmer world will cause more intense drought, floods, cyclones as well as rising sea levels and the insurance …
This study focuses on the information needs of the financial sector with respect to direct physical risks of climate change impacts. Clearly, there are many issues for the sector relating to mitigation (i.e. the control of greenhouse gas emissions). Mitigation continues to be the top priority. However, that is not …
