Cash Assurances and the National Savings and Provident Fund-Bank (CNEP-Banque) are strengthening their strategic partnership by expanding the marketing of their Nat CAT and multi-risk home insurance products nationwide, following a pilot scheme.
Kenya Reinsurance Corporation (Kenya Re) has proposed the establishment of a national flood risk insurance pool under a public-private partnership model, the reinsurer's Managing Director, Dr Hillary Wachinga, has said.
The Australian Reinsurance Pool Corporation (ARPC) has recorded a major milestone in its cyclone reinsurance pool operations, with total claim payments surpassing A$1bn ($703.4m) since the initiative was launched.
The global reinsurance market is continuing to soften, with noticeable rate reductions seen in key 1 April renewal regions across Asia and India, according to a recent report by Guy Carpenter, a Marsh McLennan business and leading global risk and reinsurance specialist.
The frequency and intensity of severe convective storm (SCS) events have increased significantly, leading to insured losses in billions of dollars globally, according to new analysis by Allianz Commercial.
The Southeast Asia Disaster Risk Insurance Facility (SEADRIF) Insurance Company and the ASEAN Coordinating Centre for Humanitarian Assistance on disaster management (AHA Centre) have signed a Memorandum of Intent (MoI) for a strategic collaboration to strengthen disaster impact reporting and support the development of scalable risk financing solutions.
Record global level of coal, oil and gas pollution is overtaking natural climate drivers like El Niño and La Niña, according to a new report by Climate Council of Australia. This is accelerating the climate whiplash phenomenon that flings communities rapidly from one disaster to the next.
New Zealand's insurers have sounded a growing urgency of reducing risk from natural hazards to protect communities and keep insurance accessible.
JBA Risk Management, a flood specialist, has updated its Global Flood Model, introducing enhanced hazard maps, a broad range of future climate event sets and improvements to both processing speed and exposure disaggregation.
Oman's Financial Services Authority (FSA) has verified that the Unified Motor Vehicle Insurance Policy for Comprehensive and Third Party Coverage provides protection for damages resulting from natural disasters, including hail, wadis, storms and cyclones.