Industry Segments: Climate Page 15 / 27
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- January 30 2023
Suncorp, Tower and IAG assessing over 9,000 claims from historic Auckland flooding
As assessors fly in from Australia, many more claims are expected after record rainfall on January 27 caused widespread damage.
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- January 26 2023
Opinion: Australia’s (re)insurers are testing the limits of climate change
As the outlook worsens, the sustainability of the market picking up most of the risks might be called into question.
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- January 25 2023
Analytics: Asian economic, BI and cyber worries on the rise in 2023
Higher-than-expected inflation and financial market volatility are among the biggest concerns for insureds in the region.
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- January 19 2023
Sure Insurance joins Australia’s cyclone pool
The Queensland home insurer is backed by Liberty Mutual Insurance and Pacific International Insurance.
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- January 18 2023
Net-zero alliance goes soft on emerging markets
The first protocol transitions from commitments to implementation, but excludes many classes, including all lines of treaty, from its scope.
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- January 18 2023
First net-zero protocol faces backlash for ‘lack of ambition’ and ‘greenwashing’
Activists say reduction target of 34% by 2030 is lower than IPCC recommendations and exclusions to construction and erection all-risk lines allow insuring of new power plants.
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- January 13 2023
Insurers tread a fine line on ESG disclosures as scrutiny intensifies
2023 set to be pivotal for mandatory climate-related filings as APAC regulators, other stakeholders up the ante.
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- January 12 2023
RACQ demands bigger share of the disaster fund for Queensland
The US$138m government fund, available from the next financial year, will be used to prepare for nat cat events.
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- January 10 2023
Claims rise as Western Australia rebuilds after ‘worst flooding in history’
Nine emergency flood warnings are in place for South Australia as rainfall continues from Cyclone Ellie.
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- January 10 2023
New Zealand Cyclone Hale likely be a ‘one-in-20-year’ weather event
The extratropical cyclone has hit Northland and Auckland with about a month's worth of rain over the past 24 hours.
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- December 29 2022
Asia Pacific nat cats: the year in review
Majority of the loss events in the region were secondary perils, mostly floods.
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- December 22 2022
RACQ challenges current cyclone pool structure
It has asked for amendments such as including all types of floods and motor in the scheme, extending the claim period and reconsidering the budge-neutral principle.
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- December 16 2022
Opinion: RACQ exit rumour calls into question CTP scheme
Demands for an overhaul of the state’s motor insurance framework have resurfaced with the reports of a possible sale of the club’s motor arm.
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- December 15 2022
New Zealand 2022 extreme weather claims top US$216m
The country experienced “wave after wave of extreme wet weather” during the warmest and wettest winter on record.
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- December 11 2022
RACQ exploring ‘long-term partnerships in reinsurance’
The club declined comment on reports of plans to sell its flood-hit insurance business.
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- December 9 2022
Asean insurers setting strict targets for green transition
Many regional players still fall short to support the Paris Agreement targets due to institutional barriers and weak financing.
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- December 7 2022
Korean Re’s partial coal exit faces backlash
The reinsurer told IAN that it 'acknowledges the declaration may fall short' but 'will make the best efforts to improve decarbonisation policies and achieve net-zero by 2050'.
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- November 24 2022
Tower’s FY 2022 COR improves to 90.1% but profits slip
The company said the strengthening of Canterbury earthquake reserves and a customer remediation provision impacted results.
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- November 24 2022
ICA warns New South Wales, Queensland floods could become the costliest
236,000 claims worth US$3.67bn have been reported across the states for the February/March disaster.
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- November 18 2022
Water-related losses highest in Asia, more stress likely, warns WMO
In Asia, the highest adaptation cost is estimated for China at US$189bn, followed by India at US$46bn.
