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Disaster Risk Reduction

THE INSURANCE TIMES

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June 2025

Global Assessment Report on Disaster Risk Reduction 2025 – Summary

The Global Assessment Report (GAR) 2025, published by the United Nations Office for Disaster Risk Reduction (UNDRR), offers a sobering yet crucial analysis of the current global landscape of disaster risk. With the theme focused on “Transforming Risk Governance for a Resilient Future,” the report presents a strategic outlook on systemic risks, socio-economic vulnerabilities, and the institutional shifts required to build disaster resilience in a rapidly changing world.

1. Context and Objectives

The 2025 report continues the GAR tradition of providing policymakers, practitioners, and communities with evidence-based insights and guidance. However, this year's edition emphasizes that the world is facing a complex risk landscape—not merely from natural hazards, but from the interaction of risks such as pandemics, climate change, economic fragility, technological disruptions, and social inequality.

The report’s primary objectives include:

  • Assessing the current state of disaster risk worldwide.

  • Identifying gaps in risk governance and data.

  • Exploring strategies for integrated risk management.

  • Highlighting success stories from countries adopting forward-looking policies.

2. The Systemic Nature of Risk

One of the key messages of the GAR 2025 is the systemic nature of risk. The report explains that hazards can no longer be treated in isolation. Instead, risks are increasingly interlinked, cascading across sectors and borders, amplifying their consequences.

For example:

  • A flood can trigger infrastructure failure, disrupt supply chains, and spread diseases.

  • Climate change exacerbates the frequency and intensity of extreme events.

  • Social vulnerability—such as poverty or poor governance—turns hazards into disasters.

FLERE HISTORIER FRA THE INSURANCE TIMES

THE INSURANCE TIMES

GST 2.0 Reforms: What They Mean for the Life Insurance Industry and Consumers

The Indian insurance industry has long been advocating for rationalisation of Goods and Services Tax (GST) on life and health insurance products. With the rollout of GST 2.0 reforms, expectations are high that the sector will finally receive much-needed relief and structural clarity. The reforms aim to simplify compliance, widen the tax base, and rationalise rates—moves that could significantly alter how insurers price products and how consumers perceive insurance as a financial tool.

time to read

3 mins

October 2025

THE INSURANCE TIMES

Building a Risk-Aware Culture at AIG Post-2008 Crisis

What is Risk Culture?

time to read

6 mins

October 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Unrealised Potential: Rural Insurance in India

Rural insurance penetration remains low due to several factors. Products typically cater to urban areas, but prices often fail to account for irregular income cycles, and distribution channels lack local trust and durability.

time to read

4 mins

October 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

World's First Insurance Salvage Patent: Transforming Accident Recovery into Safety Innovation

The patent's implementation is projected to save lives through prevention of untimely deaths and disabilities. By ensuring transparent disclosure of accident history and repair quality, the system reduces the likelihood of compromised vehicles causing subsequent accidents.

time to read

6 mins

October 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Redressal of grievances under the Liability Insurance : An overview

As public liability insurance became integral to modern business risk management, the expectation was that insurers would offer not only financial protection but also prompt and fair resolution in times of distress. However, the ground reality often paints a different picture. Despite purchasing policies with the intent of securing peace of mind, many policyholders-particularly small businesses- experience frustration and uncertainty when filing claims.

time to read

14 mins

October 2025

THE INSURANCE TIMES

THE INSURANCE TIMES

Bridging the Trust Gap: Why Insurers Need an Internal Ombudsman

The Reserve Bank of India (RBI) has already introduced an Internal Ombudsman Scheme for banks, requiring all banks to designate an independent officer to address escalated consumer complaints. If appropriate, insurance regulators may implement a similar model for the sector.

time to read

8 mins

October 2025

THE INSURANCE TIMES

29th FAIR Conference 2025 to be Hosted by GIC Re in Mumbai Media Partner: The Insurance Times

The insurance and reinsurance fraternity will gather in Mumbai from 5th to 8th October 2025 for the 29th FAIR (Federation of Afro-Asian Insurers and Reinsurers) Conference, hosted by GIC Re. Themed \"Emerging Markets Towards Resilient Growth\", this year's edition will focus on strengthening cooperation, resilience, and innovation across Afro-Asian markets.

time to read

1 mins

October 2025

THE INSURANCE TIMES

Do's and Don'ts for Purchasing Marine Cargo Insurance in India

Do’s (Things You Must Do)

time to read

3 mins

October 2025

THE INSURANCE TIMES

Insurance Regulator Update

Ajay Seth takes charge as IRDAI chairman amid key sector reforms

time to read

4 mins

October 2025

THE INSURANCE TIMES

Legal Briefs

Insurer to pay crash victim's kin Rs. 2.5 crore

time to read

2 mins

October 2025

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