natural disasters News

Africa’s Disaster Resilience Is Focus of New African Risk Capacity Partnership

The African Risk Capacity (ARC) has teamed up with the African Development Bank (AfDB) to help African nations strengthen their resilience to weather-related risks. The ARC and the AfDB will work together to develop their member states’ understanding of the …

Re/Insurers Can Help Bridge Protection Gap with Technology: GA Report

Digital technologies can be harnessed by the re/insurance industry to narrow insurance protection gaps in developing and emerging markets, thereby improving societal resilience after natural disasters, according to a report published by the Geneva Association. However, the protection gap problem …

Social Polarization, Inequality Raise Potential for Risk, Disruption: WEF

Rising inequality and social polarization are set to shape world developments for the next decade after contributing to Britain’s decision to leave the European Union and the ballot-box success of U.S. President-elect Donald Trump, the World Economic Forum (WEF) said. …

Rutgers Law School in New Jersey Launches Project to Improve Homeowners’ Insurance

Rutgers Law School’s Camden, N.J., location, in collaboration with United Policyholders, is seeking to improve homeowners’ insurance nationally through its recently launched project. The Rutgers Center for Risk and Responsibility at Rutgers Law School in Camden and United Policyholders have launched a …

Consortium and Kansas County Announce Drone Emergency Response Deal

The Property Drone Consortium and emergency managers for Marion County, Kan. announced a public-private partnership under which the consortium will provide the county with an unmanned aerial system, sensor and resources. The county plans to deploy the system in the …

Munich Re Q2 Profits Beat Expectations, Aid Claims and Restructuring Costs

Munich Re, the world’s second-biggest reinsurer, reported second-quarter profit that beat analysts’ expectations as gains from currencies and investments cushioned higher claims from natural disasters and restructuring charges at its Ergo primary-insurance unit. Net income declined to 974 million euros …

Climate Change Will Raise the Cost of Canada’s Natural Disasters: Insurers

Canada will have to set aside more money to deal with natural disasters like wildfires, storms and floods as climate change starts to bite, the head of the country’s property insurance industry group said on Wednesday. A wildfire sweeping through the heavily …

Top Exposures Facing Global Middle Market Firms Vary by Region: Assurex Survey

While all middle market businesses across the world have concerns about cyber risk, few of these firms view it as their biggest exposure, according to a global survey* of 68 leading independent insurance brokers, which gauged the concerns of their …

El Niño Helped Reduce Natural Catastrophe Losses in 2015: Munich Re

Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on Monday. While the climate phenomenon known as “El …

Weather-Related Disasters Occurred Almost Daily in Past Decade: U.N. Report

Weather related disasters such as floods and heatwaves have occurred almost daily in the past decade, almost twice as often as two decades ago, with Asia being the hardest hit region, a U.N. report said on Monday. While the report …