Deaths from natural disasters “damning indictment of inequality” says Ban Ki-moon
A new report from the United Nations shows the extent to which poorer nations suffer loss of lives due to natural disasters.
To mark International day for Disaster Reduction, the report analyses 20 years of data on more than 7,000 disaster events with 1.35 million lives lost. It shows that earthquakes and tsunamis are the largest killers overall followed by climate-related disasters.
The study reveals that 90 per cent of the deaths were in low and middle income countries.
“On this International Day for Disaster Reduction, I call on all Governments to work with civil society and the private sector to move from managing disasters to managing risk. Let us move from a culture of reaction to one of prevention and build resilience by reducing loss of life,” said UN Secretary-General Ban Ki-moon who said the report was a “damning indictment of inequality.”
Death tolls in disasters are directly related to income and development levels. Low and middle income countries accounted for 1,221,490, of the overall 20-year death toll.
No high-income countries appear on the list of top ten countries for disaster deaths which is topped by Haiti, 229,699; Indonesia, 182,136; and Myanmar, 139,515.
Report estimates Hurricane Matthew losses at up to $6.8 billion
Early reports suggest that the insured losses from Hurricane Matthew in South Florida will be lower than initially thought but a catastrophe modeling firm said Thursday that the costs will still be sizeable.
AIR Worldwide’s assessment of the insured losses for the US is between $2.2 billion and $6.8 billion with a further $200 million to $2 billion for the Caribbean.
The Boston-based firm’s estimate includes the five states impacted by Hurricane Matthew - Florida, Georgia, South Carolina, North Carolina, and Virginia - does not include certain factors such as losses covered by the National Flood Program and damage to infrastructure.
Liberty International launches war, terror coverage for businesses
A new war and terrorism coverage product has been launched by Liberty International designed to protect US businesses’ assets at home and abroad.
“With more random and localized terrorist attacks causing increased casualties and mass disruption, U.S. businesses are finding themselves more vulnerable in different ways,” said Henry Nelson, who has transferred from Liberty’s London office to lead the U.S. effort.
“Terrorism is one of the top concerns for CEOs. Companies and brokers who want to stay one step ahead of the curve are increasingly turning to stand-alone War and Terrorism products which respond immediately and address key issues like business interruption and loss of attraction,” added Nelson.
The new product includes various triggers and target industries.
