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	<title>disaster &#8211; Finance Colombia</title>
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	<link>https://www.financecolombia.com</link>
	<description>Connecting Colombia to the global capital markets, analysts, economists, investors, and executives that matter</description>
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	<url>https://www.financecolombia.com/wp-content/uploads/2016/01/cropped-Favicon-32x32.png</url>
	<title>disaster &#8211; Finance Colombia</title>
	<link>https://www.financecolombia.com</link>
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	<item>
		<title>Mudslide Kills 12 in Central Colombian Town of Marquetalia</title>
		<link>https://www.financecolombia.com/mudslide-kills-12-in-central-colombian-town-of-marquetalia/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Fri, 12 Oct 2018 17:36:50 +0000</pubDate>
				<category><![CDATA[Public Sector & Education]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[Landslide]]></category>
		<category><![CDATA[manizales]]></category>
		<category><![CDATA[Marquetalia]]></category>
		<category><![CDATA[Mudslide]]></category>
		<category><![CDATA[National Unit for Disaster Risk Management]]></category>
		<category><![CDATA[Natural Disaster]]></category>
		<category><![CDATA[ungrd]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=16009</guid>

					<description><![CDATA[A dozen people, including four children, were killed yesterday by mudslides the struck the central Colombian town of Marquetalia in the middle of the night....]]></description>
										<content:encoded><![CDATA[<p>A dozen people, including four children, were killed yesterday by mudslides the struck the central Colombian town of Marquetalia in the middle of the night.</p>
<p>Five of the victims belonged to the same family, according to local newspaper <a href="https://www.eltiempo.com/colombia/otras-ciudades/asi-fue-la-tragedia-en-marquetalia-por-deslizamiento-de-tierra-280254" target="_blank" rel="noopener"><em>El Tiempo</em></a>.</p>
<p>The earth was dislodged by heavy rains in this mountainous area within Caldas, the same department where 17 were killed last year in the capital of Manizales.</p>
<p>At least 29 people were reportedly rescued by local community members and first responders in the affected neighborhood of Los Andes, according to the Bogotá-based National Unit for Disaster Risk Management (<a href="https://portal.gestiondelriesgo.gov.co" target="_blank" rel="noopener">UNGRD</a>).</p>
<p>Colombian Vice President Martha Lucía Ramírez visited the area to show the government’s support for the victims of the natural disaster.</p>
<p><em>(Photo credit: UNGRD)</em></p>
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		<item>
		<title>Flooding Destroys More than a Dozen Homes, Forces Evacuation of Tens of Thousands in Mocoa</title>
		<link>https://www.financecolombia.com/flooding-destroys-more-than-a-dozen-homes-forces-evacuation-of-tens-of-thousands-in-mocoa/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Mon, 13 Aug 2018 02:42:19 +0000</pubDate>
				<category><![CDATA[Public Sector & Education]]></category>
		<category><![CDATA[Catastrophe]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[Iván Duque]]></category>
		<category><![CDATA[Mocoa]]></category>
		<category><![CDATA[National Unit for Disaster Risk Management]]></category>
		<category><![CDATA[Natural Disaster]]></category>
		<category><![CDATA[putumayo]]></category>
		<category><![CDATA[ungrd]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=15608</guid>

					<description><![CDATA[Rain and severe weather have led to the collapse of at least 14 houses, but no deaths, significant injuries, or missing people have been reported....]]></description>
										<content:encoded><![CDATA[<p>Mocoa, the Putumayo capital where more than 300 people were killed by flash flooding and landslides in March 2017, was struck by severe flooding this weekend that affected at least 100 homes and forced the evacuation of tens of thousands of locals, according to Colombian officials.</p>
<p>The rain and weather have led to the collapse of at least 14 houses, said the office of the president, but no deaths, significant injuries, or missing people have been reported.</p>
<p>The National Unit for Disaster Risk Management (<a href="https://portal.gestiondelriesgo.gov.co/">UNGRD</a>) stated this morning that more than 20,000 people have been evacuated, while some local media reports published throughout the day have put he figure at more than 30,000.</p>
<p>In addition to the houses that have been destroyed, a bridge has collapsed and the sewage system has been damaged in multiple neighborhoods.</p>
<p>Areas in the departments of Vichada and Guainía have also been hit with severe flooding. Nearly 10,000 people and 200 homes have been affected in Vichada in addition to other infrastructure damage, according to the UNGRD.</p>
<p>The agency has already spent more than $500,000 USD in response efforts, which have included setting up hundreds of tent shelters and handing out thousands of kits including food, personal essentials, and blankets.</p>
<p>To address the crisis in Putumayo, President Iván Duque coordinated the response with the mayor of Mocoa this morning and sent a team of emergency officials who have arranged for tanker trucks to help provide potable water to the affected population.</p>
<p>Duque said that he will travel to Mocoa and other affected areas on Tuesday.</p>
<p>“Fortunately, there are no deaths,” said Duque in a statement, adding that this is &#8220;a situation that we must address with all of our determination.”</p>
<p>While the river level in the area around Mocoa has reportedly gone down, officials have warned that more rainfall has been forecasted. Local residents are advised to heed further warnings and follow the instructions of officials.</p>
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		<item>
		<title>Reinsurers in Latin America Expected to Face Declining Profitability Through End of 2018</title>
		<link>https://www.financecolombia.com/reinsurers-latin-america-likely-face-declining-profitability-end-2018/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Mon, 14 Aug 2017 13:21:20 +0000</pubDate>
				<category><![CDATA[BFSI - Financial Services]]></category>
		<category><![CDATA[Catastrophe]]></category>
		<category><![CDATA[Catastrophes]]></category>
		<category><![CDATA[Colombia Reinsurance]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[Disasters]]></category>
		<category><![CDATA[fitch ratings]]></category>
		<category><![CDATA[insurance]]></category>
		<category><![CDATA[Latin America Reinsurance]]></category>
		<category><![CDATA[loss ratio]]></category>
		<category><![CDATA[reinsurance]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=12646</guid>

					<description><![CDATA[Though lower profitability won't affect the ratings of most reinsurers, "a couple of highly leveraged companies could suffer downgrades," stated Fitch....]]></description>
										<content:encoded><![CDATA[<p>New York-based credit rating agency <a href="https://www.fitchratings.com" target="_blank" rel="noopener noreferrer">Fitch Ratings</a> said in a recent report that demand for reinsurance in Latin America will remain low through the end of 2018 due to slow economic growth. As a result, it is projecting that profitability will deteriorate in the sector over the next 18 months.</p>
<p>The report, <a href="https://www.fitchratings.com/site/re/902030" target="_blank" rel="noopener noreferrer">“Profitability Facing Turbulence,”</a> notes that reinsurers in the region facing these conditions remain vulnerable to ongoing loss ratio increases due to higher inflation, catastrophe losses, and declining investment returns.</p>
<blockquote><p>&#8220;A couple of highly leveraged companies could suffer downgrades or be given negative outlooks.” – Fitch Ratings</p></blockquote>
<p>The horizon for companies in Latin America is somewhat in line with soft pricing across the globe, however, and the agency stated that it does not believe adverse conditions will lead to a slew of ratings decreases. Overall, it expects reinsurers in the region to maintain adequate capitalization levels and profitability.</p>
<p>Even facing headwinds, Fitch Ratings believes the bulk of companies will only see modest declines in earnings “within the ranges that current ratings can tolerate.” While this is likely to be the industry-wide story, it does foresee a scenario amid subdued demand where “a couple of highly leveraged companies could suffer downgrades or be given negative outlooks.”</p>
<p>Additionally, Fitch stated in its report that there is some probability of a turnaround in the short term. “Reinsurance demand in Latin Americas could improve to some degree, considering that insured catastrophe losses in 2016 almost doubled compared to the previous year, which should further motivate coverage acquisition,” wrote the agency.</p>
<p>In fact, profits could even increase for some firms. “A strong franchise, market position, and deeper knowledge of regional markets have left major reinsurers well placed to adapt and profit from the changing market,” stated Fitch.</p>
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		<title>Colombia to Invest $4 Million USD into Flash Flood-Stricken City of Mocoa</title>
		<link>https://www.financecolombia.com/colombia-to-invest-4-million-usd-into-flash-flood-stricken-city-of-mocoa/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Thu, 29 Jun 2017 21:57:29 +0000</pubDate>
				<category><![CDATA[Public Sector & Education]]></category>
		<category><![CDATA[Catastrophe]]></category>
		<category><![CDATA[Citizen Integration Center]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[flood]]></category>
		<category><![CDATA[Guillermo Rivera Flórez]]></category>
		<category><![CDATA[José Homero]]></category>
		<category><![CDATA[Juan Fernando Cristo]]></category>
		<category><![CDATA[MinInterior]]></category>
		<category><![CDATA[Ministerio de Comercio Industria y Turismo]]></category>
		<category><![CDATA[Mocoa]]></category>
		<category><![CDATA[Natural Disaster]]></category>
		<category><![CDATA[putumayo]]></category>
		<category><![CDATA[security]]></category>
		<category><![CDATA[Surveillane]]></category>
		<category><![CDATA[Tramite]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11993</guid>

					<description><![CDATA[More than half of the total, or about $2.3 million USD, will fund the construction of a new administrative center for Mocoa....]]></description>
										<content:encoded><![CDATA[<p>Colombia has allocated about $4 million USD (12 billion pesos) for administrative and security investments in Mocoa, the department of Putumayo capital where a flash flood in April <a href="https://www.financecolombia.com/112-killed-flooding-mudslides-colombia-mocoa/" target="_blank" rel="noopener">killed more than 300 people</a>, Minister of the Interior Guillermo Rivera Flórez announced today.</p>
<p>More than half of the total, or about $2.3 million USD, will fund the construction of a new administrative center for Mocoa. Rivera said the plan will give the capital a modern building that will help citizens spend less time waiting for officials to complete various procedures and document processing.</p>
<p>Rivera added that this site will also be used to further coordinate and administer the ongoing reconstruction efforts in Mocoa to rebuild from the disaster.</p>
<p>Another $1 million USD will go toward video surveillance as part of Colombia’s wider “Live Safe, Live in Peace” program. The monitoring is an attempt to improve public safety and alleviate the fears that some residents have in the capital, said Rivera in a statement.</p>
<p>Additionally, around $300,000 USD will be used to create a “Citizen Integration Center” (CIC) in neighborhood of José Homero that will be the staging ground for the implementation of various peace process protocols and reintegration efforts.</p>
<p>The disaster recovery and rebuilding plans in Mocoa are close to home for Rivera, a Putumayo native who was <a href="https://www.financecolombia.com/guillermo-rivera-florez-sworn-colombia-new-minister-interior/">appointed to the head of the ministry</a> last month following the resignation of Juan Fernando Cristo. The investments announced today, said Rivera, will help the community act &#8220;with integrity and opportunity in the reconstruction of Mocoa.&#8221;</p>
<p><span style="color: #808080;"><em>Photo: Minister of the Interior Guillermo Rivera Flórez announces new investments for Mocoa. (Credit: MinInterior)</em></span></p>
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		<title>At Least Seven Dead and Others Missing After Leisure Boat Sinks in Colombian Tourist Town of Guatapé</title>
		<link>https://www.financecolombia.com/least-five-dead-16-still-missing-leisure-boat-sinks-colombian-tourist-town-guatape/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Mon, 26 Jun 2017 06:21:08 +0000</pubDate>
				<category><![CDATA[Travel & Hospitality]]></category>
		<category><![CDATA[antioquia]]></category>
		<category><![CDATA[Carlos Iván Márquez]]></category>
		<category><![CDATA[Carlos Iván Márquez Pérez]]></category>
		<category><![CDATA[Cruz Roja Colombiana]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[El Almirante]]></category>
		<category><![CDATA[guatapé]]></category>
		<category><![CDATA[Guatape Shipwreck]]></category>
		<category><![CDATA[juan manuel santos]]></category>
		<category><![CDATA[National Unit of Disaster Risk Management]]></category>
		<category><![CDATA[Óscar Gómez]]></category>
		<category><![CDATA[Red Cross]]></category>
		<category><![CDATA[ungrd]]></category>
		<category><![CDATA[Unidad Nacional para la Gestión del Riesgo de Desastres]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11938</guid>

					<description><![CDATA[Seven have been confirmed dead, 11 are still missing, and more than 130 people have been rescued after disaster struck during a holiday weekend boat trip in Guatapé....]]></description>
										<content:encoded><![CDATA[<p>At least seven people have died and two remain missing after a recreational ship capsized while carrying more than 150 passengers in the Colombian tourist town of Guatapé, according to the National Unit of Disaster Risk Management (<a href="https://portal.gestiondelriesgo.gov.co/">UNGRD</a>).</p>
<p>The agency reported that 158 people have been rescued, at least three of which were sent to the hospital for immediate care. In all, at least 24 of those confirmed to have been rescued suffered injuries, according to Colombian newspaper <a href="https://www.eltiempo.com/colombia/medellin/se-hunde-embarcacion-en-represa-de-guatape-102622"><em>El Tiempo</em></a>.</p>
<p>The death toll rose more than 24 hours later when the body of one woman was found in the water. The list of those missing, however, fell from 13 in the hours after the tragedy to two as the UNGRD was later able to account for more people who had not been confirmed as alive previously. &#8220;We will continue to work,&#8221; said Carlos Iván Márquez, director of the agency. &#8220;The numbers will continue to change as we make rescues or new people appear.&#8221;</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">About 28 people are missing after the four-deck Almirante vessel went down near the tourist town of Guatapé, Columbia (via BBC) <a href="https://t.co/16zLquUUXG">pic.twitter.com/16zLquUUXG</a></p>
<p>&mdash; Global Times (@globaltimesnews) <a href="https://twitter.com/globaltimesnews/status/879140785588846592?ref_src=twsrc%5Etfw">June 26, 2017</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The multi-tiered leisure boat, named <em>El Almirante</em>, departed the shore of the picturesque manmade Guatapé-El Peñol reservoir area roughly 50 miles west of Medellín for a normal day out during a holiday weekend when millions in Colombia and the department of Antioquia have Monday off from work.</p>
<p>But soon after departure, according to witness reports published by <em>El Tiempo</em>, the ship made a loud noise some time after 2 pm and then began taking on water quickly as it began to submerge.</p>
<p>Some abandoned ship as panic struck, and other nearby small boats rushed to aid the capsizing vessel that then collapsed upon itself. At least one survivor, per <em>El Tiempo</em>, said that the passengers were never provided with life vests.</p>
<div id="attachment_11943" style="width: 810px" class="wp-caption aligncenter"><img fetchpriority="high" decoding="async" aria-describedby="caption-attachment-11943" class="wp-image-11943 size-full" src="https://www.financecolombia.com/wp-content/uploads/2017/06/DSC01698-800.jpg" alt="Guatape Medellín Antioquia Colombia Ship sinking boat disaster" width="800" height="422" srcset="https://www.financecolombia.com/wp-content/uploads/2017/06/DSC01698-800.jpg 800w, https://www.financecolombia.com/wp-content/uploads/2017/06/DSC01698-800-417x220.jpg 417w, https://www.financecolombia.com/wp-content/uploads/2017/06/DSC01698-800-400x211.jpg 400w, https://www.financecolombia.com/wp-content/uploads/2017/06/DSC01698-800-768x405.jpg 768w, https://www.financecolombia.com/wp-content/uploads/2017/06/DSC01698-800-200x106.jpg 200w" sizes="(max-width: 800px) 100vw, 800px" /><p id="caption-attachment-11943" class="wp-caption-text">Guatapé, located about 50 miles east of Medellín, is one of Colombia&#8217;s most picturesque and pleasant tourist towns. (Credit: Jared Wade)</p></div>
<p>Along with a host of emergency workers and a helicopter flying overhead, at least 10 divers were dispatched into the water during the rescue efforts. They continued to search even as nightfall began to make the work more difficult in the murky water that defines this town that sits 7,000 feet above sea level in the central Colombian Andes.</p>
<p>As darkness set in, senior police official Óscar Gómez told the press that “we will not stop and we will be here as long as necessary in order to rescue people.” He said that the police is already investigating the accident but will continue to focus its primary efforts toward the rescue.</p>
<p>President Santos, who traveled to Guatapé to offer solidarity and provide support to the victims, said that &#8220;we will do everything in our power.&#8221;</p>
<p>In addition to firefighters, the national police, and UNGRD personnel, members of various branches of the military and the Colombian Red Cross have been assisting with the rescue efforts and emergency response.</p>
<p>Emotional and other support “is being provided to those affected and their families,&#8221; said Carlos Iván Márquez, director of UNGRD.</p>
<p><em>This is a developing story that has been updated as additional information has been revealed.</em></p>
<p><span style="color: #808080;"><em>Photo: Colombian President Juan Manuel Santos traveled to Guatapé, a tourist town known for its gorgeous manmade lake and the towering El Peñol rock formation, to support the victims of the deadly disaster. (Credit: Presidencia de la República)</em></span></p>
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		<title>Coal Mine Explosion Kills 13 People in Colombia</title>
		<link>https://www.financecolombia.com/mine-explosion-kills-least-eight-colombia-ungrd/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Sat, 24 Jun 2017 18:20:55 +0000</pubDate>
				<category><![CDATA[Mining]]></category>
		<category><![CDATA[agencia nacional de mineria]]></category>
		<category><![CDATA[anm]]></category>
		<category><![CDATA[Cruz Roja Colombiana]]></category>
		<category><![CDATA[Cucunubá]]></category>
		<category><![CDATA[cundinamarca]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[Hospital Simón Bolívar]]></category>
		<category><![CDATA[mine]]></category>
		<category><![CDATA[mining]]></category>
		<category><![CDATA[Ministry of Mines]]></category>
		<category><![CDATA[minminas]]></category>
		<category><![CDATA[National Mining Agency]]></category>
		<category><![CDATA[National Unit of Disaster Risk Management]]></category>
		<category><![CDATA[Red Cross]]></category>
		<category><![CDATA[Silvana Habib]]></category>
		<category><![CDATA[ungrd]]></category>
		<category><![CDATA[Unidad Nacional para la Gestión del Riesgo de Desastres]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11894</guid>

					<description><![CDATA[Five people remain unaccounted for after more than 12 hours of rescue efforts and emergency response, said UNGRD....]]></description>
										<content:encoded><![CDATA[<p>An underground coal mine explosion in the Colombian town of Cucunubá killed 13 miners yesterday, according to the National Unit of Disaster Risk Management (<a href="https://portal.gestiondelriesgo.gov.co/" target="_blank" rel="noopener">UNGRD</a>).</p>
<p>Even after early response efforts determined that eight miners had died in the tragic accident, authorities maintained hope of rescuing others. But three more miners were later ruled deceased, as were two other people who had been described as &#8220;trapped&#8221; by UNGRD earlier in the day.</p>
<p>An accumulation of methane gas is believed to be have caused the lethal blast, although officials have yet to release a formal determination of how the explosion occurred within this rural mine, located about 50 miles northeast of Bogotá in the department of Cundinamarca.</p>
<p>At least 14 others suffered injuries. One person who was severely injured in the disaster was transported to Hospital Simón Bolívar in Bogotá. Nearly 20% of his body was reportedly burned, with his face and arms suffering severe burns, according to Colombian media outlet <a href="https://caracol.com.co/" target="_blank" rel="noopener">Caracol</a>.</p>
<p>Carlos Sing Puentes, deputy minister in Colombia&#8217;s <a href="https://www.minminas.gov.co/" target="_blank" rel="noopener">Ministry of Mines</a>, praised the &#8220;uninterrupted work&#8221; of emergency response and rescue personnel. He said that the search &#8220;will not be suspended until all the people are recovered.&#8221;</p>
<p>The site is one of many illegal mines in the coal-rich country, according to UNGRD. The agency categorized the site as a mine that operates with &#8220;informality, which constitutes a latent risk in terms of mining security.&#8221;</p>
<p>Speaking to others working within Colombia&#8217;s authorized mines, Silvana Habib, president of the <a href="https://www.anm.gov.co/" target="_blank" rel="noopener">National Mining Agency</a> (ANM), highlighted the need to remain aware of the grave risks involved and the need to prioritize preventing such disasters. UNGRD head Carlos Iván Márquez Pérez added that illegal mines such as this jeopardize &#8220;not only the life of miners but also put rescue workers and teams at risk.&#8221;</p>
<p>More than 100 people, including mining experts, rescue workers, and emergency response personnel, have been on the scene since learning of the explosion. In addition to firefighters and police officers, members of the military, Red Cross, UNGRD, National Mining Agency, and Ministry of Mines have been involved in the response.</p>
<p>The <a href="https://www.cruzrojacolombiana.org/" target="_blank" rel="noopener">Colombian Red Cross</a> led the way in terms of providing emotional and social outreach to more than 130 family members and loved ones of those who died in the accident, according to UNGRD.</p>
<p>Colombia&#8217;s attorney general&#8217;s office has reportedly opened an investigation to determine the cause of the disaster.</p>
<p><em>This article has been updated as new information has been revealed.</em></p>
<p><span style="color: #808080;"><em>Photo: Rescue efforts carried on for most of the weekend after a deadly mine explosion in the town of Cucunubá. (Photo: UNGRD)</em></span></p>
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		<title>RMS Wins Latin America Risk Modeler of the Year Award</title>
		<link>https://www.financecolombia.com/rms-wins-latin-america-risk-modeler-year-award-reactions/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Wed, 10 May 2017 22:53:02 +0000</pubDate>
				<category><![CDATA[BFSI - Financial Services]]></category>
		<category><![CDATA[Cat Modeling]]></category>
		<category><![CDATA[Catastrophe]]></category>
		<category><![CDATA[Catastrophe Modeling]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[earthquake]]></category>
		<category><![CDATA[Earthquake Modeling]]></category>
		<category><![CDATA[Hurricane Modeling]]></category>
		<category><![CDATA[insurance]]></category>
		<category><![CDATA[Natural Catastrophe]]></category>
		<category><![CDATA[Natural Disaster]]></category>
		<category><![CDATA[Reactions]]></category>
		<category><![CDATA[reinsurance]]></category>
		<category><![CDATA[Risk]]></category>
		<category><![CDATA[Risk Modeling]]></category>
		<category><![CDATA[RMS]]></category>
		<category><![CDATA[Victor Roldán]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11474</guid>

					<description><![CDATA["The award is a testament to the market’s appetite for our risk models, analytics, and insight,” said Victor Roldán of RMS....]]></description>
										<content:encoded><![CDATA[<p>Silicon Valley-based risk modeling firm <a href="https://www.rms.com" target="_blank" rel="noopener noreferrer">RMS</a> has been named as the Latin America Risk Modeler of the Year by leading insurance industry publication <em><a href="https://reactionsnet.com/" target="_blank" rel="noopener noreferrer">Reactions</a>. </em>The company credited the recognition to the market&#8217;s positive response to its extended efforts to reach Latin American and Caribbean nations, most notably through the opening of an RMS office in Miami earlier this year and the rollout of new models.</p>
<p>The honor was handed out in early May at the publication&#8217;s fifth annual Latin America Insurance and Reinsurance Awards, which seek to highlight the best of the risk management and risk transfer solutions that the global industry is providing in the region.</p>
<p>“As a region, Latin America continues to draw the attention of the global (re)insurance industry and competition is increasingly intense,&#8221; said Christopher Munro, managing editor at <em>Reactions</em>. &#8220;The service provider sector is no different, but in the end, it was clear our judges felt that RMS was the standout performer.&#8221;</p>
<p>In February, regulators in the country approved <a href="https://www.financecolombia.com/rms-colombia-earthquake-model-regulator-approved-disaster-insurance-market/" target="_blank" rel="noopener noreferrer">RMS&#8217; Colombian earthquake model</a>, allowing insurance companies operating in the high-risk nation to begin using it while determining their probable maximum loss and average annual loss as well as in managing their capital reserves, according to RMS.</p>
<p>“The award is a testament to the market’s appetite for our risk models, analytics, and insight,” said Victor Roldán, regional head for Latin America at RMS. “Our commitment to the region has never been stronger. In the past year, we delivered a wealth of new risk modeling capability and insight to help our clients protect and expand their business, including the latest RMS Mexico earthquake model and the RMS North Atlantic hurricane models released in April.&#8221;</p>
<p>Roldán added that the company is also planning to release a new model for Mexico&#8217;s Pacific coast hurricane risk in 2018 and further push for wider adoption of its &#8220;Risk Modeler&#8221; solution within the region.</p>
<p><span style="color: #808080;"><em>Photo credit: RMS</em></span></p>
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		<title>At Least 20 Killed During Building Collapse in Cartagena</title>
		<link>https://www.financecolombia.com/least-20-killed-building-collapse-cartagena/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Wed, 03 May 2017 01:57:19 +0000</pubDate>
				<category><![CDATA[Construction & Real Estate]]></category>
		<category><![CDATA[Attorney General]]></category>
		<category><![CDATA[Blas de Lezo]]></category>
		<category><![CDATA[caribbean]]></category>
		<category><![CDATA[Carlos Iván Márquez]]></category>
		<category><![CDATA[cartagena]]></category>
		<category><![CDATA[Catastrophe]]></category>
		<category><![CDATA[construction]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[juan manuel santos]]></category>
		<category><![CDATA[La Fiscalía]]></category>
		<category><![CDATA[La Fiscalía General de la Nación]]></category>
		<category><![CDATA[National Unit for Disaster Risk Management]]></category>
		<category><![CDATA[PMU]]></category>
		<category><![CDATA[Puesto de Mando Unificado]]></category>
		<category><![CDATA[Tragedy]]></category>
		<category><![CDATA[ungrd]]></category>
		<category><![CDATA[Unicartagena]]></category>
		<category><![CDATA[Universidad de Cartagena]]></category>
		<category><![CDATA[University of Cartagena]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11386</guid>

					<description><![CDATA[At least 20 people were killed by a building collapse in Cartagena late last week, with more than 20 others also suffering injuries...]]></description>
										<content:encoded><![CDATA[<p>At least 20 people were killed by a building collapse in Cartagena late last week, according to public officials, with more than 20 others also suffering injuries. The six-story building, located in the Blas de Lezo neighborhood of the Caribbean city, was under construction at the time it fell.</p>
<p>Around 480 rescue personnel, firefighters, and other first responders were on the scene in the immediate aftermath on Thursday, April 27, according to Carlos Iván Márquez, director of Colombia&#8217;s <a href="https://portal.gestiondelriesgo.gov.co/" target="_blank" rel="noopener noreferrer">National Unit for Disaster Risk Management</a> (UNGRD).</p>
<p>The agency reported that they were able to rescue 23 people alive in the rubble during the operation, after which survivors were transported to four local hospitals for care. Several canine units also assisted in the rescue.</p>
<p>Three local families, including more than 14 people in total, were also evacuated from the area due to ongoing safety concerns, according to the UNGRD.</p>
<p>While established agencies, such as the Puesto de Mando Unificado (PMU), were among the key operatives of the response, Colombian President Juan Manuel Santos was made aware of the situation soon after the building fell. He offered the assistance of any national resources that were required, according to the UNGRD.</p>
<p>Colombia&#8217;s <a href="https://www.fiscalia.gov.co/" target="_blank" rel="noopener noreferrer">attorney general</a> has launched an investigation to determine the cause of the collapse. In addition to evidence gathering, the office is engaging in interviews with relevant parties and has sought the assistance of the civil engineering department at the <a href="https://www.unicartagena.edu.co/" target="_blank" rel="noopener noreferrer">University of Cartagena</a> to better understand how the tragedy could have occurred.</p>
<p><span style="color: #808080;"><em>Photo credit: National Unit for Disaster Risk Management (UNGRD)</em></span></p>
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		<title>Two People Killed by Heavy Flooding in Colombian Department of Chocó</title>
		<link>https://www.financecolombia.com/two-killed-heavy-flooding-rains-colombia-choco/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Sat, 22 Apr 2017 06:05:48 +0000</pubDate>
				<category><![CDATA[Public Sector & Education]]></category>
		<category><![CDATA[Atrato River]]></category>
		<category><![CDATA[Bagadó]]></category>
		<category><![CDATA[caldas]]></category>
		<category><![CDATA[Carlos Iván Márquez Pérez]]></category>
		<category><![CDATA[Catastrophe]]></category>
		<category><![CDATA[Catastrophe Risk]]></category>
		<category><![CDATA[Cértegui]]></category>
		<category><![CDATA[chocó]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[Flooding]]></category>
		<category><![CDATA[Lloró]]></category>
		<category><![CDATA[manizales]]></category>
		<category><![CDATA[Mocoa]]></category>
		<category><![CDATA[National Unit for the Management of Disaster Risk]]></category>
		<category><![CDATA[Natural Catastrophe]]></category>
		<category><![CDATA[Natural Disaster]]></category>
		<category><![CDATA[Nuquí]]></category>
		<category><![CDATA[putumayo]]></category>
		<category><![CDATA[Rain]]></category>
		<category><![CDATA[Risk Management]]></category>
		<category><![CDATA[ungrd]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11286</guid>

					<description><![CDATA[Floodwaters in Bagadó reportedly reached more than meter high, while the municipalities of Cértegui, Lloró, and Nuquí also experienced significant flooding....]]></description>
										<content:encoded><![CDATA[<p>Two people have been killed by flooding in Colombia’s Pacific coastal department of Chocó after heavy rains caused at least two rivers to overflow, according to public officials. At least three others have suffered injuries and more than 700 families were affected, reported the Bogotá-based radio station <a href="https://www.rcnradio.com/locales/dos-muertos-768-familias-afectadas-desbordamiento-rio-choco/">RCN</a>.</p>
<p>The town of Bagadó was hard hit, with some 60% of the town suffering damage and floodwaters reportedly reaching more than meter high in some sections of town. Other Chocó municipalities Cértegui, Lloró, and Nuquí also experienced significant flooding.</p>
<p>The <a href="https://portal.gestiondelriesgo.gov.co/" target="_blank" rel="noopener noreferrer">National Unit for the Management of Disaster Risk</a> (UNGRD) took action to coordinate the federal response. Personnel and machinery was deployed by the agency, particularly to help manage the overflow of the Atrato River. Many of those whose homes suffered damages are being given rent subsidies that will help provide alternative lodging for up to three months, according to the UNGRD.</p>
<p>Along with oversight from UNGRD head Carlos Iván Márquez Pérez, authorities in Chocó also established a local disaster risk management office, where all emergencies in the department will now be handled first hand.</p>
<p>The tragedy in Chocó marks another fatal disaster during the ongoing period of torrential rains that have been falling in Colombia this month. In the deadliest catastrophe to hit Colombia in decades, more than 300 were killed in the Putumayo capital of <a href="https://www.financecolombia.com/112-killed-flooding-mudslides-colombia-mocoa/" target="_blank" rel="noopener noreferrer">Mocoa</a> in early April from mudslides after multiple rivers broker their banks. A rain-induced landslide also <a href="https://www.financecolombia.com/landslide-kill-least-16-manizales-heavy-rains-continue-devastate-colombia/" target="_blank" rel="noopener noreferrer">killed at least 16 people in Manizales</a> this week.</p>
<p>The Atrato River and is tributaries both remained on alert for potential flooding late on Friday. Multiple other areas of the country near waterways have also received warnings in recent weeks.</p>
<p><span style="color: #808080;"><em>Photo credit: UNGRD</em></span></p>
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		<title>Bogotá Airport Disrupted by Takeoff Scare for Freighter Plane Carrying Disaster Aid for Mocoa</title>
		<link>https://www.financecolombia.com/bogota-airport-disrupted-takeoff-scare-freighter-plane-carrying-mocoa-disaster-aid/</link>
		
		<dc:creator><![CDATA[Jared Wade]]></dc:creator>
		<pubDate>Tue, 11 Apr 2017 20:50:02 +0000</pubDate>
				<category><![CDATA[Travel & Hospitality]]></category>
		<category><![CDATA[aerocivil]]></category>
		<category><![CDATA[avianca]]></category>
		<category><![CDATA[aviation]]></category>
		<category><![CDATA[Boeing 727-200]]></category>
		<category><![CDATA[BOG]]></category>
		<category><![CDATA[bogotá]]></category>
		<category><![CDATA[disaster]]></category>
		<category><![CDATA[El Dorado International Airport]]></category>
		<category><![CDATA[Humanitarian Aid]]></category>
		<category><![CDATA[José María Córdova]]></category>
		<category><![CDATA[José María Córdova International Airport]]></category>
		<category><![CDATA[Lineas Aereas Suramericanas]]></category>
		<category><![CDATA[MED]]></category>
		<category><![CDATA[medellin]]></category>
		<category><![CDATA[Mocoa]]></category>
		<category><![CDATA[Nariño]]></category>
		<category><![CDATA[Natural Catastrophe]]></category>
		<category><![CDATA[Natural Disaster]]></category>
		<category><![CDATA[Pasto]]></category>
		<category><![CDATA[putumayo]]></category>
		<category><![CDATA[Red Cross]]></category>
		<guid isPermaLink="false">https://www.financecolombia.com/?p=11116</guid>

					<description><![CDATA[There were no injuries to any of the four crew on board, but one of El Dorado’s runways remained closed for roughly two hours....]]></description>
										<content:encoded><![CDATA[<p>A freighter plane hauling humanitarian aid for victims of the <a href="https://www.financecolombia.com/112-killed-flooding-mudslides-colombia-mocoa/" target="_blank">Mocoa flash flood disaster</a> disrupted operations at Bogotá’s airport yesterday when it aborted takeoff just before 1 pm.</p>
<p>The aircraft, a Boeing 727-200 operated by <a href="https://lascargo.co/?lang=en" target="_blank">Líneas Aéreas Suramericanas</a> (LAS), was accelerating as normal on the ground when the pilot decided not to complete takeoff and then overshot the end of the runway by nearly 600 feet due to its speed.</p>
<p>There were no injuries to any of the four crew on board and no significant damage reported to the plane, which was scheduled to fly to Pasto, the capital of Nariño. But El Dorado International Airport’s 13R runway remained closed for roughly two hours following the incident and led to delays for other aircraft.</p>
<p>At least one Avianca flight bound for Bogotá from Medellín’s José María Córdova International Airport, which was also dealing with thunderstorms and heavy rain, was canceled and at least three others were delayed for several hours.</p>
<p>The runway in Bogotá reopened around 3 pm, although only 3,100 meters of the 3,500-meter runway were available, according to <a href="https://www.aerocivil.gov.co/" target="_blank">Aerocivil</a>, the aviation regulator in Colombia. The agency said that it was conducting an investigation to determine why the incident occurred.</p>
<p>The planned flight to Pasto was carrying food intended to help those impacted by the disaster in the Putumayo capital of Mocoa, where more than 300 people were killed by flash flooding and mudslides in early April. The flight had been coordinated by Líneas Aéreas Suramericanas and the Red Cross.</p>
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