Climate Risks
Insufficient insurance amplifies banks' climate risk
The lack of coverage raises silent risks in the banking industry, Aon said.
Insufficient insurance amplifies banks' climate risk
The lack of coverage raises silent risks in the banking industry, Aon said.
Global insured NatCat losses hit $60b in H1 2024
The US alone experienced 12 severe storms in H1.
Global NatCat drive $61b in insured losses in H1 2024
The region accounted for 6% of the total.
IAG caps natural perils costs at $1.3b
It also said it is on track to report FY24 profit and margin at the upper end of the guidance ranges.
Climate insurtech seals deal to offer parametric insurance in Asia
Extreme weather events cost global agriculture $10b to $15b annually.
Insurance pivotal in risk resilience enhancement: Marsh
“There is No Planet B” author urged the sector to factor in risks of ongoing polycrisis.
Climate change impacts wind turbine infrastructure, insurers advised
A 10% decline in wind speed can result in over a 30% reduction in output.
Malayan Insurance upgrades catastrophe risk analytics with Moody's modeller
The insurer said it aims to gain a comprehensive understanding of risks across regions and perils.
ASEAN forms reinsurance committee to tackle climate risks
The insurance industry’s snail pace in providing capacity for RE projects, the committee aims to jumpstart the progress.
Geneva Association calls for collaboration to address climate-related health risks
The report highlights the potential long-term consequences on health and life insurance as climate events become more severe and frequent.
What can blindside Australia’s growing general insurance industry
Natural catastrophe may hinder the potential CAGR of 6.4% through 2025, analysts warned.
Climate risk is burning billions and Asia remains vulnerable
In 2021, the largest recorded natural disaster in the region cost over $2b.
$3.37b losses in Eastern Australia floods to challenge insurers
The initial assessment of losses was $2.75b in April.
Insurers can halve emissions by 2030: UN official
The UN assistant secretary-general for climate action has three asks for the industry.
Nat Cat makes home insurance unaffordable in Australia
This could ultimately lead to underinsurance or no insurance at all.
520,944 properties in Australia to be uninsurable by 2030
Riverine flooding poses the biggest risk to properties.
9 out of 10 of insurers worried over climate risks
Insurers said this will have a significant impact on portfolio construction.
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Humans need to be in insurance’s genAI loop
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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.
