Subject: Climate Page 17 / 29
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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.
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- November 17 2022
WTW aids Indonesia with low carbon transition
A new sovereign risk management programme has been designed to help the world’s largest thermal coal exporter.
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- November 10 2022
ASIC warns insurers of likely surge in claims, seeks higher preparedness
Australian securities regulator said firms need to gear up for the summer as La Nina persists.
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- November 7 2022
RMS’ Michael Steel: ‘Committed to expanding APAC footprint in terms of models, perils and people’
In an IAN interview, the risk modeller’s global head discussed regional growth plans, climate change, the ILS market, cyber risks, ESG underwriting and the Moody’s merger.
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- November 3 2022
ICA unveils 2030 insurer net zero roadmap
Instruments include office rooftop solar panels, energy efficiency investments and electric fleets.
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- October 26 2022
Tower trials parametric cyclone cover in Fiji
While the island country is heavily exposed to cyclones, fewer than 10% of Fijian households have insurance.
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- October 26 2022
Japan inland flood losses to rise 50% by 2050, JBA models show
The flood modelling specialist has launched a set of global climate change tools for flooding in every country.
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- October 25 2022
Analytics: APAC nat cat damage 43% below average for H1
Flooding in Australia/China and an earthquake in Japan accounted for nearly half of these losses.
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- October 25 2022
ICA estimates 9,251 insurance claims from ongoing floods
Record property damage, road, public infrastructure and sheer volume of water, likely says Victoria’s premier as rains continue.
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- October 21 2022
Governments hold back APAC carriers’ green transition
Many regional (re)insurers are hesitating to ditch fossil fuels faster than their national policies dictate.
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- October 11 2022
Australian weather bureau forecasts summer of ‘above-average’ cyclones
There is a more than 70% chance of 11 or more tropical cyclones during the severe weather season, which this year witnessed one of the costliest nat cat events.
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- October 10 2022
US$290tn investment gap to hit Paris climate targets: Swiss Re
Plugging the hole will require a ramp-up of climate spending to an estimated US$9.4tn on average every year till 2050.
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- October 3 2022
Analytics: Asian cat losses up 145% since 2017
Models show that (re)insurers should expect even higher losses as exposures rise, according to data provider Verisk.
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- September 29 2022
Opinion: Australia’s natural disaster fund far from ‘ready’
The US$135m federal government funding should be matched and cross-country coordination improved, as the ICA demands.
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- September 23 2022
CTX Special Risks, Cosco Shipping captive join global marine climate group PPMI
The Poseidon Principles of Marine Insurance is a framework to incentivise shipping decarbonisation by disclosing the 'climate alignment' of hull and machinery portfolios.
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- September 23 2022
Market braces for Nanmadol loss creep
Secondary perils could play a major role after mid-single digit billion loss estimates.
