The Insurance Council of Australia (ICA) has welcomed the government of New South Wales' (NSW) renewed commitment to reforming the Emergency Services Levy (ESL).
In New Zealand, the Natural Hazards Resilience Partnership has been signed to enhance the country's coordination and cooperation in responding to, and recovering from, major natural disasters.
Australia is seeing an emerging dual crisis of growing housing inequity. Rising prices relative to wages in metropolitan areas are creating intergenerational inequity, while the risk of climate-driven price declines in high-risk regions could drive geographic inequity.
Investors are encouraged to evaluate their portfolio exposure to deforestation and linked human rights abuses, phase out deforestation and forest conversion risks by 2030, actively engage with companies, asset managers, and policymakers, and disclose their actions, risks, and progress using measurable data.
The number of insurance claims for wild-weather related damage received by NRMA Insurance between January and May this year has surpassed the total number of wild-weather claims received by it in the full year 2024. New data released by NRMA Insurance said it received more than 32,000 claims for wild weather-related damage between January and May this year.
As New Zealanders are expecting more extreme weather events as a result of climate change, they want more to be done to reduce the risks and costs of these events to help keep insurance affordable and available.
Australia's Cyclone Reinsurance Pool (cyclone pool) has released an updated summary following cyclone Alfred, which brought rainfall and destructive winds to communities in southeast Queensland and northern New South Wales.
Escalating climate shocks are deepening an insurance crisis that threatens both social resilience and financial stability-shifting unaffordable risks onto people while exposing the limits of an insurance system under intensifying strain according to the 'Insure Our Future' campaign.
International Finance Corporation (IFC) and QBE Asia will collaborate to advance building resilience and address the persistent property insurance gap across the Asia-Pacific region, according to a statement released by IFC.
Japan will set a goal of reducing an estimated life toll of up to 298,000 deaths from a potential megaquake occurring in the Nankai Trough by around 80% over the next 10 years according to a report by Kyodo News.