The Financial Services Authority (FSA) yesterday issued an administrative decision approving new regulatory amendments to the Unified Motor Insurance Policy Model, introducing a package of benefits aimed at expanding insurance protection for motor insurance policyholders and enhancing the quality of services provided.
The Indian insurance sector is poised for robust mid-term growth, supported by solid macroeconomic fundamentals and rising consumer demand, according to Swiss Re's report "India's Economic and Insurance Market Outlook 2026 2030: Resilient and Rising Amid Global Shifts".
The agricultural sector in Algeria is currently working to expand agricultural insurance coverage to include the various natural disasters resulting from climate change, the Minister of Agriculture, Rural Development and Fisheries, Yacine El-Mahdi Oualid, said.
The current bushfires in Australia that have impacted 18 Local Government Areas across the state of Victoria since 7 January 2026 have now been escalated from 'Significant Event' to 'Insurance Catastrophe'.
A new report has said that without action, global warming is now likely to reach 2°C before 2050. This is a level associated with catastrophic impacts on societies and economies worldwide, with major disruption to water and food systems, migration, and human health.
Heatwaves, wildfires, droughts, and storms cost the world more than $120bn in 2025 and fossil fuel companies are playing a central role in driving this crisis according to a new report by Christian Aid.
The Philippines has long been exposed to climate hazards, from typhoons to floods and earthquakes, due to its geographical location. While the insurance market is stronger than a decade ago, extreme events still test claims operations and the resilience of weaker carriers. To address this, Southeast Asia is developing innovative risk-financing solutions that the Philippines can adopt or scale, says the Philippine Insurers and Reinsurers Association (PIRA) Executive Director, Michael Rellosa.
Claims continue to mount following the devastating bushfire that swept through central Victoria. As of 13 January, the Insurance Council of Australia (ICA) reported nearly 1,400 claims, encompassing property, commercial, motor, and business interruption losses. Early assessments suggest around 30 percent of all property claims may involve total losses.
Peak perils in 2025 accounted for only a small share of overall losses, according to the latest report by Howden Re. Outside of the US, losses were driven by a series of notable, but localised events across Asia and Europe, producing moderate insured losses amid significant human and economic impacts.
Sedgwick, the world's leading risk and claims administration partner, has published its 2026 forecasting report.