Climate Insurance
Climate change alters insurer risk management: S&P
Secondary perils have caused the reinsurance industry to regain capital in 5 of 6 years.
Climate change alters insurer risk management: S&P
Secondary perils have caused the reinsurance industry to regain capital in 5 of 6 years.
Flood infrastructure saves 10x rebuilding costs
Climate change is expected to drive up these losses further.
PCRIC, WTW enhance pacific disaster coverage
PCRIC will provide coverage against tropical cyclones, heavy rain, earthquakes, and tsunamis.
2024 insured losses exceed decade average at $108b
Total economic losses for the first three quarters reached ~$280b.
Milton’s $50b losses won't impact rated insurers: Fitch Ratings
This will bring 2024’s total global insured losses to over $100b.
Hurricane Milton could add to insurers’ $60b NatCat losses in 2024
Global reinsurers could see their claims payouts rise.
SEADRIF issues $3m payout to Laos
Donor governments include Japan and Singapore.
Super Typhoon Yagi triggers IFRC insurance policy
Thanks to disaster relief demands in 2024 surpassing the fund’s $40m threshold.
SEADRIF allocates $750k for Lao flood relief
The payout was initiated on 20 September, just five days after severe flooding.
Typhoon Yagi triggers reinsurance reassessment in Vietnam
Business interruption claims are expected to be manageable.
Parametric insurance market set to double by 2033
The manufacturing sector held the largest share of the market in 2023.
S&P warns of strained profitability for insurers due to climate events
Last year was the fourth straight year insured losses surpassed $100b globally.
Zurich Financial Services, Mandala unveil first climate risk index for tourism
Half of Australia’s tourism assets are classified in an elevated risk category.
Climate insurance market set to double by 2030
Insurers are adapting through central hubs or establishing vertical business units.
Japan’s Shanshan brings major losses
The typhoon reached peak intensity on 27 August.
Insufficient insurance amplifies banks' climate risk
The lack of coverage raises silent risks in the banking industry, Aon said.
Australia’s annual weather-related insurance costs more than double
Insured losses increased to 0.7% of the GDP.
Thought Leadership Centre
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1. Top 50 list shows worsening dip in Singapore’s insurance premiums 2. China's personal insurance sector to grow 5% to 10% annually 3. Health insurance payouts rise 30% in India 4. Sun Life HK, HKMC partner to promote flexible retirement planning programmes 5. 20 private Indian insurers struggle with claim payoutsResource Center
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Humans need to be in insurance’s genAI loop
![Humans need to be in insurance’s genAI loop]()
Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
