The InsuResilience Solutions Fund (ISF) has signed a grant agreement to co-fund the development of a climate risk insurance solution to protect smallholder farmers in southern Malawi from climate-related hazards.
Global reinsurers will feel the impact of Hurricane Milton, S&P Global Ratings (S&P) has said but it does not foresee Milton overstepping the sector's annual catastrophe budgets.
Hurricane Milton will push global industry insured losses thus far in 2024 to over $100bn, which is the fifth consecutive year losses have crossed this threshold, Fitch Ratings has forecast.
Sasria SOC, a state-owned non-life insurance company, is currently participating in engagements with government, regulators and other stakeholders on potential ways to expand its coverage, according to South Africa's Finance Minister Mr Enoch Godongwana.
The impact on Thailand's insurance industry of floods in parts of the country is manageable, says S&P Global Ratings (S&P).
The destructive typhoon Yagi caused severe damage to 26 provinces and cities in northern Vietnam, including key economic zones like Hai Phong, Quang Ninh and Hanoi. These areas host significant industries, contributing 25.81% of GDP and 17.27% of Vietnam's export value, according to FiinGroup.
Boomers and older - those aged 58 and up - are the least likely to be aware of the danger of bushfires, despite having lived through more such fires than any other generation, according to the findings of a survey by Queensland-headquartered insurer Youi.
The SEADRIF Insurance Company has made a payout of $750,000 following the passage of typhoon Yagi which devastated eight provinces in Lao PDR, including Vientiane, Phongsaly, Luangnamtha, Oudomxay, Bokeo, Luangprabang, Xiengkhuang and Xayabouri.
Even as the Insurance Council of Australia (ICA) renewed its calls to stop building on floodplains, housing projects on floodplains continue to be approved by the local government authorities.
The Insurance Council of Australia (ICA) has released a charter outlining the principles and key actions for addressing the challenges of extreme weather events, as well as disaster preparation, response, and recovery.