Losses from weather-related catastrophes may destabilise the earnings of mainland Chinese non-life insurers, especially in 2H2025, according to Fitch Ratings.
The Senate Select Committee has presented its report on the "Impact of Climate Risk on Insurance Premiums and Availability" that contains recommendations that seek to address the immediate challenges of insurance unaffordability arising from climate risk, while providing longer-term solutions for communities.
Introducing climate insurance products for disaster-vulnerable communities, their livelihoods and infrastructure represents the cornerstone of climate risk mitigation policy, indicated Mr Hamza Haroon, regional director for South Asia of the Climate Vulnerable Forum - Vulnerable 20 (CVF-V20).
The United Nations-convened Forum for Insurance Transition to Net Zero (FIT) has launched the first-ever global guide on transition plans for insurance companies at the 2024 UN Climate Change Conference (COP29) in Baku, Azerbaijan.
Researchers have used machine learning to design a more cost-efficient insurance contract that could better protect farmers against weather risks arising from climate change.
A project to strengthen the financial resilience of flood-prone communities in Ghana has delivered two parametric insurance products -- an Excess Rainfall Cover and a Flood Footprint Product.
The impact of recent legislative changes that have made climate disclosure mandatory in Australia will be wide-ranging, according to Xceedance, which provides insurance-focused consulting, technology, operations and data solutions. Businesses are being encouraged to prepare for the likely impact.
Less than 1% of insurance claims for damage caused by floods and landslides have been paid out to date, according to data from the Nepal Insurance Authority (NIA).
The Insurance Federation of Egypt (IFE) is working with the Financial Regulatory Authority (FRA) to launch an index-based insurance product, according to Mr Alaa El-Zoheiry, IFE chairman.
Globally, economic losses due to Nat CAT in the first three quarters of 2024 were estimated to be $258bn, approximately 7% lower than the mean at $277bn, according to Aon's Q3 Global Catastrophe Recap, published in October this year.