Industry Segments: Climate Page 5 / 27
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- June 24 2024
ICA welcomes building ministers’ commitment to climate resilience
Decision to include building resilience as part of Australian Building Codes Board's objectives paves the way for stronger new homes that can withstand disasters and could help save US$2.7 billion building costs per year.
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- June 24 2024
Insurance claims from southern China torrential rain and floods hit US$85m: NFRA
Insurers have received 18,400 claims so far and the meteorological bureau is expecting persistent rain after upgrading the rainstorm alert to red, the highest of the four-colour ranking system.
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- June 24 2024
InsuResilience expands India parametric rainfall cover with further premium support
In 2020, ISF co-funded the development and implementation of the excess rainfall cover for India north-eastern state of Nagaland.
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- June 24 2024
Australian cyclone pool kicks off strata premium rate review
The main change being considered is the introduction of mitigation discounts on wind premium rates for eligible strata policies to improve incentives to reduce and mitigate risk.
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- June 20 2024
Japanese carriers walk a thin line on ESG underwriting: Fitch
While the major non-life insurers have incorporated sustainability considerartions, they may face pressure from foreign investors who consider them inconsistent with global environmental standards.
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- June 19 2024
Marsh launches new climate adaptation and resiliency centre in Singapore
With a team of over 100 executives based in Asia, the centre aims to help private companies adapt to extreme climate events and play a more active role in funding for climate adaptation initiatives.
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- June 18 2024
ICA welcomes New South Wales’ US$3.8bn resilience funding package
The Insurance Council of Australia hails the state government's budget funding targeted at reducing flood risks, and its recommitment to scrap the widely-criticised emergency services levy.
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- June 12 2024
Extreme heat triggers parametric payout for 50,000 women in India
The parametric insurance, which benefited women working in the informal sector, was underwritten by Swiss Re and provided locally by ICICI Lombard.
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- June 12 2024
Australia’s strata insurers get cold feet about lithium battery risks
Lot owners will likely see higher premiums, deductibles and even outright rejection by insurers which are shying away from lithium-ion battery chargers and mobility devices as their use widens across the country.
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- June 4 2024
AI key to exposure management, risk assessment beyond covered perils: CCR Re
Technologies such as natural language processing, machine learning are transforming how the global reinsurer assesses risks, predicts claims and prepares for climate change, says CRO & actuary Jérôme Isenbart.
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- May 31 2024
Opinion: Are risk models for Asia fit for purpose?
There is a need for carriers to build in-house modelling capabilities as third-party offerings lack a deep understanding and awareness of emerging risk exposures in Asia Pacific, especially for secondary perils.
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- May 30 2024
Central and western Australia to see above-average winter rainfall: BOM
The Bureau of Meteorology forecast said that the country is likely to have higher temperatures than usual for this time of the year following an autumn that was warmer for most parts.
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- May 30 2024
Emerging carbon credit insurers take roots in Asia Pacific
Specialist players like Kita and Oka have recently set up shop in the region as the market here is growing with Australia, Japan and Singapore leading the way.
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- May 29 2024
APRA proposes US$22m in levies funding for Australia’s general insurance sector
The total operational costs of the regulators to be recovered from the general insurance sector in FY 2024 is 10.8% higher than the previous financial year, the Treasury said in a discussion paper.
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- May 28 2024
Equal chance of neutral ENSO conditions and La Niña: BOM
The Australian weather agency has maintained La Niña watch as there are some early signs that an event might occur in the Pacific Ocean later this year.
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- May 28 2024
Singapore Airlines turbulence puts new risks on the radar
Allianz-led liability program for the airline was placed by Gallagher and Sedgwick has been retained as the loss adjuster, IAN can reveal.
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- May 27 2024
Tropical cyclone landfalls in East Asia set to be above-normal: Guy Carpenter
The western North Pacific region will likely see 19 to 21 tropical cyclone formations this year, which is near-normal activity, according to the reinsurance broker.
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- May 24 2024
Allianz is lead insurer for Singapore Airlines turbulence-hit flight: report
The extreme turbulence led to the death of a 73-year-old man, with 20 remaining in intensive care.
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- May 24 2024
South-East Asia accounts for a third of global ship losses in 2023: Allianz Commercial
South China, Indochina, Indonesia and the Philippines, is the main ship loss hotspot globally last year.
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- May 23 2024
Brokers eye parametric possibilities in Asia for nat cats and beyond
Intermediaries are taking the index-based products route to provide coverage for risks that were once considered too complex or too difficult to insure.
