A coalition of 50 countries has committed to protect almost a third of the planet Earth by 2030 by halting the destruction of the natural world and slow extinctions of wildlife according to The High Ambition Coalition (HAC).
The year 2020 was an extraordinary one for weather and climate events in the US. The country had to endure an unprecedented 22 disasters in 2020, each costing more than a billion dollar according to a recap by National Oceanic and Atmospheric Administration (NOAA).
QBE, Australia's largest insurer in terms of premium income, has finalised renewal of the Group's reinsurance programme effective 1 January 2021, the company says in a statement.
The Insurance and Social Insurance Supervisory Authority (ACAPS) has published an information guide on its catastrophic events (EV CAT) insurance scheme which entered into force on 1 January 2020.
The direct economic loss caused by Super Typhoon Mangkhut when it lashed Hong Kong in September 2018 is estimated at about HK$4.60bn ($593m), which is about 3.8 times that of Super Typhoon Hato in 2017, according to an academic paper produced for the first time by the Hong Kong Federation of Insurers (HKFI) and Hong Kong Observatory (HKO).
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, yesterday disclosed its fourth and final industry loss estimate for the Australian bushfires of 2019/2020.
Ten extreme events, influenced by climate change, each caused a damage of $1.5bn or more during 2020 according to a new report by Christian Aid. In fact, nine of these ten catastrophic events caused damage worth at least $5bn each. With most of these estimates based only on insured losses, the true financial costs are likely to be much higher.
Land subsidence, which is the sinking of the ground's surface often caused by human activities such as groundwater removal, could impact 635m people globally by 2040, according to a new research.
The African Risk Capacity (ARC) Group has proposed a new insurance mechanism to African countries in the South West Indian Ocean (SWIO) region to cope with the devastating effects of tropical cyclones.
The Australian Competition and Consumer Commission (ACCC) has concluded its three-year inquiry into insurance affordability and availability in northern Australia and how to promote more informed and more competitive insurance markets.