Insurance support for communities in New Zealand hit by extreme weather events has hit a new annual record of NZ$248m ($185m), with insurance customers making more than 13,600 weather related claims for the 12 months to December 2020, says the Insurance Council of New Zealand (ICNZ).
About 20% of Mumbai Metropolitan Region's (MMR) coastline is vulnerable to annual flooding during natural disasters and from a gradual rise in the sea level according to a new study.
Fitch Ratings considers climate change and its impact on natural catastrophe losses to be one of the most important environmental, social, governance (ESG) risks for non-life and composite insurers, and reinsurers. Nevertheless, climate change has a minimal impact on most insurance ratings within Fitch's portfolio.
Both the Insurance Council of Australia (ICA) and Master Builders Australia (MBA) have committed to working with the government to improve information sharing between the sectors, and to improving consumer information on housing resilience.
The Insurance Commission (IC) intends to roll out the first private sector-led catastrophe insurance facility within the first quarter of this year.
The ClimateWise Principles Independent Review 2020 shows member insurance industry firms have made significant progress in disclosing their preparedness and response to climate change.
Around 2.2bn people or 29% of world's total population lives in areas that would experience some level of inundation during a 1- in-100 - year flood event according to a recent study by World Bank.
Scientists are calling on New Zealanders to become citizen seismologists to help determine whether a low-cost community-based earthquake early warning system is feasible in New Zealand.
Public awareness of natural disaster insurance has improved but the increase in penetration was marginal only over the past year, according to the chairman of the Indonesian General Insurance Association (AAUI), Mr Hastanto SM Widodo.
The jury is still out to decide what caused the Uttarakhand disaster on 7 February 2021 - a glacial lake burst or avalanche. The exact cause of what triggered the sudden surge of water in Dhauli Ganga, Rishi Ganga and Alaknanda rivers is still not clear. Chamoli district of the Himalayan state has been badly affected and 32 people have been killed while around 150 are still reported missing.