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The Magazine

March 20, 2005




MOSAIC: Battered insurance


By Samina Iqbal


2004 is set to go down in the history books as the most expensive year for the insurance industry worldwide as a result of hurricanes, typhoons and other weather related natural disasters.

Figures show that for the first 10 months of last year, natural disasters cost the insurance industry just over $35 billion, up from $16 billion in 2003.

The United States, at over $26 billion suffered the highest insured losses according to the preliminary figures compiled by Munich Re, one of the world’s biggest re-insurance companies.

Economic losses, the majority of which were not insured, will also have cost the planet and its people dear. Preliminary figures for the months January to October estimate that these losses were also among the highest on record totalling, so far, about $90 billion up from over $65 billion in 2003. Insured losses, driven by weather or climate-related disasters, will amount to more than $30 billion, making 2004 the costliest natural catastrophe year ever for the insurance industry world-wide. There are indications that the figures will further increase.

The insurance industry is worried that new, climate-related risks, may be emerging. Hurricane Catarina, which hit Brazil earlier this year, developed in the Southern Atlantic where normally sea surface temperatures are too low to trigger tropical cyclones.

A record number of ten typhoons made landfall in Japan, the most destructive of which were Chaba, Songda and Tokage, one of the strongest typhoons ever. Altogether they caused economic losses of $10 billion and insured losses of more than $6 billion.

Dialogue with young generation

By Anwer Abro

Recently a seminar was held in Karachi that highlighted the struggle of the young generation, that despite heavy odds, is there to survive with all its intelligence, dignity, wisdom, knowledge and expertise and wants to play its momentous role in society.

The seminar, ‘Changing people-Changing times’ attracted a large number of young people as well a imminent speakers including artiste Talat Hussain who in his freestyle speech managed to convey his message of modern thinking related with the language, culture, literature and art. He spoke of his own struggle with life and remembered how he wanted to become a professor but circumstances pushed him towards an early career. He noted that human beings are being converted into machines by the dominant economic superpowers of the world. “Thinking, feelings, emotions and attitudes of people are being changed through a flood of electronic media. Now the economic powers decide the fate of the people all over the world,” he said.

Ghulam Abbas, a noted educationist said that the youth should understand the rapidly changing world and intellectual forces. He said globalization; industrialization and communication had transformed society and changed the social relations and values. The noted educationist said it is a dilemma that human relationship has been mechanized. This is why it has ceased to be a human relationship.

A new hope

By Dr Fatema Jawad

New-generation, orally administered cholera vaccines offer the promise of improved control of cholera, states a recent issue of the New England Journal of Medicine.

The presence of HIV infection simultaneously could make the level of protection doubtful. A study was conducted in Mozambique, Africa where cholera is endemic and is seen more from January to June during the rainy season. Despite better patient management, water-chlorination campaigns and dissemination of health-education messages, the burden of cholera has remained high.

Oral cholera vaccines are promising tools for the control of cholera. A study was conducted in Beira, a city where cholera is endemic and the prevalence of HIV is high. The mass vaccination was timed to take place before the anticipated yearly cholera outbreak, which usually coincides with the rainy season. The vaccine was administered by healthcare workers who after shaking the vial, opened it, and poured its contents into a cup with buffer solution and stirred it. The recipient drank the mixture completely under direct observation.

A full first dose was received by 14,164 (72 per cent) people and 11,070 (57 per cent) received two doses of the rBS-WC cholera vaccine. Of the cases who reported with cholera symptoms later, 2599 patients (45 per cent) were admitted and 20 (one per cent) of them died. Subjects with cholera were more likely to have recently eaten uncooked food and less likely to have recently eaten dried fish. The rBS-WC oral cholera vaccine was found to be highly effective in conferring short-term protection against severe cholera in an area of sub-Saharan Africa with a high prevalence of HIV infection.



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