The Morrison government will establish a new national agency to help support local communities respond to large-scale natural disasters. Funds of A$600m ($464m) would be invested in a new programme of disaster preparation and mitigation, to be managed by the new entity, the National Recovery and Resilience Agency.
Global insurer, Allianz, has announced that as part of its climate strategy, it would further limit property and casualty insurance and investments for companies with carbon-based business activities.
Increasing frequency and severity of extreme environmental conditions will test the limits of risk diversification over the coming decade according to a new report by Fitch Ratings.
Almost all the world's glaciers are becoming thinner and losing mass and these changes are picking up pace according to an international research team.
COVID-19 will create fresh supply-chain risks for businesses in 2021 after disrupting the global flow of operations when the pandemic broke in 2020 according to business standards group The British Standards Institution (BSI).
A disproportionate number of homes built in struggling or declining neighbourhoods in England and Wales between 2008 and 2018 will end up in high flood-risk areas due to climate change according to a new study by Grantham Research Institute (GRI).
The federal government announced yesterday that it will launch an A$10bn ($7.7bn) reinsurance pool, in a bid to reduce home and business insurance premiums in cyclone-prone northern Australia.
The COVID-19 pandemic must be treated as a wake-up call for urgent, coordinated climate action, ensuring recovery is used as a chance to build back better, says the Nicosia-based research organisation The Cyprus Institute.
The chairman of the Australian Prudential Regulation Authority (APRA), Mr Wayne Byres, has highlighted three important issues that are relevant and critical to the long-term strength and resilience of the financial sector.
Thermal power plants are finding it a challenge to obtain reinsurance in international markets as global reinsurers tighten their environment, social and governance (ESG) policies and coverage of coalfired power projects is too big for the capacity of domestic insurers.