The Cost Of 21st Century Natural Disasters

How to build long-term resilience in vulnerable communities

After a year of no income and with mounting debts, tens of thousands of migrant workers in India had just returned to cities to seek work when the COVID-19 second wave hit.

“Migrant workers have built India’s economy,” says Shaikh. “They make up 60% of the workforce. Given this, they urgently need and deserve more support and recognition.

It was a crisis on top of a crisis, says Sumit Singh, Communications Manager at social enterprise Jan Sahas. As migrants turned around and began the long journey home – often on foot – they were facing a worsening hunger crisis and now, additionally, a health crisis. Unlike in the first wave, the numbers of infections and deaths were skyrocketing – even in rural areas that had been spared the worst the first time around.

“Everyone was scared,” says Singh. “And everyone has lost someone in these past few months.”

Jan Sahas, which translates literally as ‘people’s courage’, has worked with excluded social groups in India for more than two decades, focusing on safe migration and workers’ protection as well as the prevention of sexual violence against women and children. This means that it was well-positioned to mount a swift response in early 2020 – delivering food relief in the form of dry rations to more than a million migrant and other vulnerable communities in 15 states across the country, as well as providing cash support and mental health and legal support…

Cannes Underscores International Film Business Resilience

“In the old days, at some point when people were leaving [Cannes], you said, ‘Well, before you go, this has to be wrapped up,’” says Constantin’s Martin Moszkowicz. “Now it doesn’t have to be done this way anymore. You can basically say, ‘Well, we’ll do it on Zoom next week.’”

Running July 6-17, Cannes, the physical festival and parallel Marché du Film, is over, but dealing could stretch into high summer. Some studio deals could indeed take months to close.

That said, to date, the 2021 Cannes Festival and Marché du Film did much to underscore the resilience of the international film business at least for its top-top players. Following, 10 takeaways…

The Cost Of 21st Century Natural Disasters

Insurance broker Aon reported that insured losses from natural disasters reached $42 billion in the first half of 2021. While the figure represents a 10-year high for insured losses over the opening six months of the year, overall economic losses came in below the 10-year average at $93 billion. Aon’s findings come in the wake of floods that have devastated parts of Western Germany, killing at least 170 people. Flooding also resulted in the deaths of 12 people in the Chinese city of Zhengzhou this week with footage of a submerged subway carriage going viral.

Natural disasters that hit developed countries typically result in higher insured losses and Aon states that 72 percent of all insured losses in the first half of this year occurred in the United States. The polar vortex period of extreme cold in particular resulted in insured losses of some $15 billion. Down through the years, historical Aon data shows that the highest insured losses in the 21st century occurred in 2017 at $161 billion and 2011 at $160 billion. The latter was the year the tsumani struck Japan, resulting in the Fukushima disaster, where total economic losses reached $557 billion…

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