Climate Insurance
Insufficient insurance amplifies banks' climate risk
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.
Australian pension funds turn to catastrophe bonds for higher returns
Australia’s pensions industry brings over A$2b inflows weekly.
Global insured NatCat losses hit $60b in H1 2024
The US alone experienced 12 severe storms in H1.
Only a fifth of Asia, Africa’s natural disaster losses insured in H1 2024
Total losses from natural disasters amounted to $40b.
Global insured losses hit $58b in H1 2024
Natural catastrophes resulted in over 6,000 fatalities, the lowest since 2020.
Global NatCat drive $61b in insured losses in H1 2024
The region accounted for 6% of the total.
China absorbs $13b loss in natural disasters in H1 2024
The government has allocated $570m for disaster management this year.
AXA backs IDF’s climate resilience infrastructure plan
It aims to create a scalable, replicable solution for infrastructure resilience projects.
Zurich-Aon facility offers comprehensive hydrogen coverage
It also covers carbon capture, utilisation, and storage (CCUS) technologies.
Climate insurtech seals deal to offer parametric insurance in Asia
Extreme weather events cost global agriculture $10b to $15b annually.
Climate change impacts wind turbine infrastructure, insurers advised
A 10% decline in wind speed can result in over a 30% reduction in output.
ICA gives two thumbs up to new building code decision
Enhancing home resilience against weather could save an estimated $4b yearly.
Chinese insurers retrieve 18,400 claims for rain damages
Total claimed loss amounted to ~$86.9m.
ISF co-funds parametric solution for remote Indian state
Nagaland faces high levels of disaster and climate-related impacts.
ICA welcomes NSW budget, aims for insurance affordability
NatCat events in the past two years caused $2.64b (AU$4b).
Commitment issues rise amidst climate risks dampen insurance reliability
Typhoon Koinu alone in 2023 led to over $500m in insurance claims.
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1. Vietnam’s life insurance sector slated for dip this 2025 2. BFSI sector leads cyber insurance adoption at 35% to 40% share 3. Malaysia’s healthcare system faces funding, cost challenges 4. This week in insurance: Singapore's insurance sector sees market growth 5. Few Singapore SMEs have cyber insuranceResource Center
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
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