Insurance companies and other entities regulated by the Insurance Commission (IC) have been ordered to expedite the settlement of claims in areas declared under a state of calamity following the magnitude 7.8 earthquake that struck Mindanao.
The strong tremor that hit the southern Philippine island of Mindanao is expected to result in limited insured losses due to the country's low insurance penetration, according to a commentary by AM Best.
With New Zealand entering a future where natural disasters are more frequent, more destructive and more expensive, the country needs to build on existing momentum to materially reduce risks before disasters strike.
Given the low insurance take-up in the Philippines, especially for homes, the insurance industry expects to see a wide divergence between insured and economic losses due to the 7.8 magnitude offshore earthquake that struck the southern part of the country on 8 June 2026.
3IF Ventures (the Fund), the first impact venture capital fund dedicated to Africa's insurance start-up ecosystem, has announced the First Close of the Inclusive Insurance Investment Fund (3IF Ventures) at $12m.
Hailstones will continue to get bigger in size and become more common as carbon emissions caused by man continue to warm the climate, according to a new study published in the scientific journal Nature in May this year.
New Zealand's insurance sector is calling on all political parties to replace the current Fire and Emergency New Zealand (FENZ) levy with a simpler Community Protection Levy, redirecting funding into reducing natural hazard risk before disasters strike while moving FENZ to sustainable Crown funding.
Climatic conditions this year suggest that conditions are conducive to the formation of typhoons in the Northwest Pacific, which are more likely to hit Japan, the Greater China region or South Korea.
Heavy rain and flooding have struck multiple regions in China since 15 May, with frequent heavy rain, torrential rain, and even extremely heavy rain.
SEADRIF Insurance Company and the Food and Agriculture Organization of the United Nations (FAO) have launched an anticipatory drought insurance pilot in the Lao People's Democratic Republic (Lao PDR). This marks the first time a Southeast Asian government has secured pre-arranged financing designed to activate ahead of drought impacts.