Climate Insurance
Zurich Financial Services, Mandala unveil first climate risk index for tourism
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.
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.
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