Subject: Climate Page 4 / 28
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- October 2 2024
Reinsurers’ risk insights, modelling vital to taming escalating nat cat losses: Swiss Re
Besides providing capacity, the reinsurer's expertise and insights on risks related to climate change and renewable energy are key to its collaboration with insurers in limiting nat cat losses, says Victor Kuk.
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- October 1 2024
Crawford Malaysia names Mohammad Aminuddin as head of Pahang branch
The loss adjuster has also brought in Nazirul Jabri Bin Roslee as senior adjuster as it looks to strengthen its capabilities ahead of the monsoon season.
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- September 30 2024
Typhoon Krathon expected to make ‘rare’ direct hit on Taiwan’s western plains
The tropical storm, likely to intensify into a super typhoon, is forecast to hit the major port city of Kaohsiung early on October 2 and make its way to Japan.
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- September 30 2024
Seadrif targets Asean expansion as it ramps up advocacy to tackle bottlenecks
While it has achieved success in Laos, a significant protection gap persists in the region, highlighting the need for improved data management and government support for effective disaster risk solutions, chairman Yoshihiro Kawai tells IAN.
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- September 27 2024
De-risking climate change requires ‘active adaptation’: EAIC panel
Targeted policy measures to address structural drivers of cat losses, better data collection, including individual exposures, and modelling are needed to combat climate risks.
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- September 26 2024
Q&A: Global warming is creating uncertainty in valuation of physical assets
Chelsea Jiang, Axa’s chief technical and innovation officer, general insurance for Greater China, shares her views on parametric, how companies can guard against convective storms, and HK’s role in narrowing China’s protection gap.
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- September 24 2024
Climate change, green transition and geopolitics reshaping marine insurance
The growing importance of Asia underlined the 150th annual International Union of Marine Insurance conference where geopolitical tensions, extreme weather risks, and energy transition dominated discussions.
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- September 23 2024
Japan’s flooding and landslides cause power cuts, casualties in quake-hit Noto Peninsula
More than 100,000 people have been ordered to be evacuated in Ishikawa and Kumamoto prefectures with 6,000 households left without power Japan and train services suspended as Japan Meteorological Agency issued its highest "life-threatening" alert level following torrential rains in the region.
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- September 16 2024
Typhoon Yagi inflicts US$1.6bn in damages to Vietnam, to impact GDP growth
The super storm impacted 26 Vietnamese localities that collectively represent 41% of the country’s GDP and 40% of its population.
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- September 16 2024
Severe Typhoon Bebinca grounds flights, rail services and shut resorts as it lands in Shanghai
The strongest to hit Shanghai in 75 years, the meteorological bureau warns of heavy downpour and flooding risks for Jiangsu, Zhejiang and Anhui provinces up to September 18.
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- September 13 2024
Super typhoon Yagi hit Vietnamese insurers with US$285m in claims payout
PVI Insurance, the largest non-life carrier, called it "a historically undesirable loss for Vietnam’s insurance industry" and for the company. The 9,000 claims filed are expected to keep rising, Ministry of Finance said.
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- September 13 2024
China braces for typhoon Bebinca as Yagi slaps US$11bn economic losses on Hainan: report
The country’s meteorological bureau issued a blue alert for its 13th typhoon of the year warning of heavy rain in Zhejiang, and Shanghai. This followed local media reports pointing to escalating economic losses that super typhoon Yagi caused to Hainan.
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- September 12 2024
Thai insurers brace for losses as Yagi remnants raise flood risk
Thailand’s meteorological department said more heavy rain is expected until September 18 with the risk of flash floods, as a northern monsoon trough is moving down and a southern one is gaining strength.
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- September 12 2024
Data crucial for Asia’s renewable drive as offshore wind power gains momentum
With the region prone to nat cat risks such as earthquakes and typhoons, demand for data is rising as (re)insurers are looking to better understand the risk profiles of the growing numbers of renewable projects such as offshore wind farms.
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- September 11 2024
Japan, Australia are top two APAC markets most sensitive to rise in nat cat claims: S&P
Insured annual catastrophe losses averaged US$6.6 billion in Japan, and US$2.5 billion in Australia over a ten-year period. China ranked third in Asia, at US$1.7 billion, according to the rating agency.
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- September 5 2024
Pacific islands cat pool PCRIC mulls expansion into private sector cover
The captive for the island nations is looking at extending parametric solutions to the underserved private sectors such as tourism, fisheries, and utilities, according to chief executive Aholotu Palu.
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- September 4 2024
Asia cat exposure growth outpaces other regions as global annual losses top US$151bn: Verisk
Exposure growth amid rapid urban expansion is one of the main contributors to annual increase in losses alongside inflation; while climate change accounts for just 1% of losses.
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- September 3 2024
Insurers brace for claims as wild weather hits southern Australia
The severe weather including damaging winds, major floods and coastal hazards caused widespread damage across Victoria and Tasmania and left more than 120,000 without power.
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- August 26 2024
South Korean government pushes ahead with EV battery certification scheme: report
Set to launch in October, the certification scheme seeks to alleviate growing public concerns about lethal fires caused by EV lithium batteries, as insurers are reviewing their existing motor policies to gauge the potential losses in their books.
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- August 26 2024
Australia’s insurance affordability aggravated by 30% premium hike for nat cat-exposed properties: report
As more frequent extreme weather events are driving the premiums up, regions like southwest and southeast Queensland, NSW' Northern Rivers, regional Western Australia and the Northern Territory are among the most exposed to the risk of being underinsured.
