Climate change will impact future weather events to varying degrees, and is expected to affect future insurance premiums, says the Reserve Bank of New Zealand (RBNZ) in its November 2021 Financial Stability Report.
The German government has announced funds of EUR18m ($20.4m) to subsidise the cost of disaster risk insurance for qualifying African Risk Capacity (ARC) member states.
Riyadh-based Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) plans to invest over SAR60m ($16m) next year, the company's CEO has said.
The insurance industry in China has made tentative steps to explore near-zero carbon car insurance, heavy rainfall catastrophe index insurance, and clean energy insurance, said a CBIRC spokesman.
The economy, worker shortages, Brexit, COVID-19 and reputational damage are the biggest risks to UK businesses according to Aviva Insurance's second risk report.
Sumitomo Life Insurance, among the top five life insurers in Japan, is expected to maintain substantial mortality and morbidity margins, underpinned by the company's strategic focus on the higher-margin medical and nursery care, known as "third sector", products and its substantial in-force business, says Fitch Ratings.
Environmental issues are at the bottom of business leaders' concerns and set to fall further in 2022 according to specialist insurer Beazley's new report Spotlight on Environmental Risks.
Insurers are increasingly concerned about the implications of climate risk, with 95% confirming it will have a significant impact on portfolio construction over the next two years according to BlackRock's tenth annual Global Insurance Report.
Resilience to severe climate impacts will only be possible when existing systemic market failures are addressed according to a new report Risk & Resilience by Coalition for Climate Resilient Investment (CCRI).
Descartes Underwriting and Global Earthquake Model (GEM) Foundation will jointly develop new open-source hazard and risk assessment software, tools and data for parametric insurance coverage of earthquakes.