Industry Segments: Climate Page 17 / 27
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- September 14 2022
Rising cat claims force APAC governments to partner reinsurers: S&P
Government-backed cat pools and widening agri cover are seen as ways to maintain affordability.
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- September 7 2022
Supply squeeze pushing up Asia nat cat treaty pricing
After TMK and Axis Re exits, hardening market drives cedants to alternatives such as ILS, parametric or structured solutions.
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- September 1 2022
Australian east coast flood losses hit US$3.61bn: ICA
The government launches new body to improve nat cat responses as annual disaster costs expected at US$50bn by 2060.
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- August 30 2022
Lockton rejects Adani’s Carmichael mine deal: report
The broker is the latest (re)insurance firm to distance itself from the controversial project.
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- August 22 2022
‘We don’t eat more than we can stomach’: Peak Re’s Franz Josef Hahn
The reinsurer is retaining reserves into this year and has ‘solid retrocession protection’ to tide over rising nat cat losses.
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- August 22 2022
‘Significant’ volume of claims expected from NZ flooding: McLarens
'Landslides, road closures, wastewater overflows and water supply challenges reported across South Island'.
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- August 15 2022
Seoul flooding hits P&C players with ‘material’ losses
Claims from the record downpour expected to top US$115m.
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- August 8 2022
Australian floods dampen reinsurers’ H1 results as secondary perils drive losses
Munich Re, Swiss Re, Hannover Re and PartnerRe were among firms hit by the wild weather.
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- August 4 2022
New Zealand’s climate plan urges development of home flood insurance
The country’s first climate adaptation document wants to address affordability of cover.
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- July 21 2022
Korean insurers draw coal criticism
Samsung F&M and Hyundai M&F under fire, but Kepco’s decision to exit coal signals change.
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- July 14 2022
Australia’s PM unveils climate plan as NSW flood claims approach US$100m
Anthony Albanese highlights large scale renewable energy plan, as over 12,000 claims lodged from recent flooding.
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- July 12 2022
IAG joins UN’s Net-Zero Insurance Alliance
The membership now represents close to 15% of the world’s premium volume.
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- July 12 2022
NSW claims rise to US$83m in latest flooding disaster
Over 10,500 claims have been lodged with insurers already, said the ICA.
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- July 8 2022
Down to the wire Australian renewals signal market shift
In fraught negotiations, reinsurers adapt to higher frequency of secondary perils and climate change.
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- July 8 2022
ICNZ issues climate warning as tornado claims top US$5m
ICNZ CEO Tim Grafton said the unusual event on North Island likely to become more common.
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- July 7 2022
Time to learn from Australia’s unmitigated disasters
As insurers' budgets come under pressure and nat cats intensify, mitigation needs to be prioritised.
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- July 6 2022
Australian market hit by ‘significant’ NSW flood event
Tens of thousands asked to evacuate in fast moving, dangerous situation.
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- July 5 2022
China explores parametric expansion after costly floods
Henan is the latest province to trial the cat innovation after payment was triggered in Guangdong last month.
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- July 1 2022
Mixed reaction to Australia’s cyclone pool modelling data
There are potential premium savings of 38%, but up to 24% of Queensland homeowner policyholders could see rises.
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- June 29 2022
Australia’s Feb, March floods now third costliest nat cat: ICA
The floods in Queensland and New South Wales have caused over US$3.3bn of insured losses.
