Industry Segments: Climate Page 15 / 28
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- February 14 2023
IAG, Suncorp and Tower receive over 37,000 claims from Auckland floods
IAG has seen over 21,000 claims, Suncorp more than 11,500 and Tower over 4,800, from the event which started January 27.
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- February 14 2023
Asia flood losses to worsen amid data deficit
(Re)insurers are feeling the heat from record rainfall events and fast-evolving climate risk scenarios.
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- February 13 2023
Powerful Cyclone Gabrielle hits New Zealand
The strongest storm in decades is causing widespread damage to North Island, which is recovering from recent flooding that is expected to cost insurers and reinsurers over US$600m.
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- February 9 2023
Tower ‘likely’ to buy reinstatement cover as Auckland floods set to trigger reinsurance
The New Zealand carrier has so far seen over 4,800 claims from the weather event and has a cat excess of US$7.5m.
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- February 3 2023
Australia disaster funding under an independent review
Led by Andrew Colvin of Deloitte, the review evaluates government investment in disaster risk reduction and resilience.
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- February 2 2023
20,000 claims lodged from Auckland flooding: ICNZ
A ICNZ spokesperson has told IAN that the number of claims "will continue to rise" from the "biggest climate event to have ever hit" New Zealand.
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- February 1 2023
New Zealand’s insurers reel from country’s ‘worst-ever’ climate catastrophe
As adjusters start work, hundreds of million of dollars of claims are expected, including significant commercial damage.
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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.
