Solar-related structural fires now account for a quarter of structural fires, revealing a growing risk linked to home solar installations, according to Fire Force, a fire response partnership between Discovery Insure and private firefighting and rescue service, Fire Ops SA.
The fire insurance branch has faced challenges for many years related to high and frequent losses, which require concerted efforts to improve pricing mechanisms and technical evaluation, said Dr Tarek Seif, Vice Chairman of the Financial Regulatory Authority.
The number of claims lodged with insurance companies across all branches stood at 993,194 in the first half of this year, 4.1% higher than the 954,299 submitted in 1H2025, according to data from the General Insurance Committee (CGA).
In recent years, extreme precipitation associated with linear rainbands has triggered large-scale flooding and landslides, leading to more severe and costly loss events in Japan. Events such as the widespread heavy rainfall experienced during Japan's 2023 summer rainy season have demonstrated the significant losses that extreme precipitation can cause.
As the reinsurance market enters the upcoming renewal season against the backdrop of an increasingly interconnected and rapidly changing risk landscape, clients need support in in identifying evolving exposures and risk accumulations through data and analytics, underwriting expertise and tailored solutions to manage this complex environment.
In collaboration with the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), Suncorp has developed a new industry-standard training and certification training programme to better support home claims suppliers and subcontractors in maintaining compliance.
The Turkish government has released its Medium-Term Programme (MTP), a roadmap for the economy, covering the years 2027-2029, that will focus on large-scale industrial manufacturing, agricultural development, public procurement to spur domestic production, and high-value exports via project-based funding.
Kenya's insurance industry recorded strong growth with gross direct premiums rising 16.5% to KES466.58bn ($3.61bn), up from KES400.59bn in 2024, according to a statement released by the Insurance Regulatory Authority (IRA).
The Insurers Federation of Egypt (IFE) has called for investment in training specialised technical cadres within insurance companies, enabling them to understand the complex nature of risks associated with solar energy, wind energy and battery energy storage systems, and to evaluate and price the risks with a higher degree of accuracy.
The Tunisian Federation of Insurance Companies (FTUSA), in its latest digitalisation move, requires applications for a listing in the register of insurance experts and claims adjusters to be lodged online. The requirement took effect on 1 September.