New Zealand’s early-2023 weather events cost US$5.3-US$8.6bn, government inquiry finds
April 25 2024 by Kristina Shperlik
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Australia’s FY 2023 nat cat insured losses at US$850m: ICA
- May 2
Despite the year-end catastrophes, incurred claims in 2023 dropped 78% to AU$1.76bn, and claims recorded were 57% lower compared to 2022.
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China’s insurers see US$96.5m in reported claims from week-long Guangdong rainstorm
- April 30
As of April 28, a total of 34,700 cases were filed to insurers in the southern province of China and the carriers have paid out a third of it amounting to US$28.4m.
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Insurers’ switch to risk-based pricing makes insurance unaffordable: RBNZ
- April 30
Climate change and rising reinsurance costs are prompting more insurers to switch to a risk-based pricing approach, but the Reserve Bank of New Zealand warns that this is also making property insurance unaffordable and leave customer underinsured.
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Opinion: European regulator’s climate conundrum poses questions for South-East Asia’s risk mitigation
- April 26
Excluding high-risk areas from coverage does not provide a viable solution, as all actors need to work together to address climate risk, including the P&C sector, governments and society.
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WTW | Building resilience against emerging risks in Asian realty sector
WTW’s Ben MacCarthy, head of real estate, hospitality & leisure, Asia, and Jennifer Tiang, cyber leader, Asia, discuss the real estate industry’s sectoral risk landscape and the emerging role of proptech.
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FM Global | Resilience: No longer a choice
As climate disclosure becomes mandatory and new risks emerge from natural hazards, understanding the tools that are available to build resilience is more important than ever.
