The compulsory insurance system for vehicles covers all motor accidents by vehicles that are fully insured unless they constitute a felony or intentional misdemeanour, the director of the Insurance Department of the Ministry of Industry, Trade and Supply, Mr Wael Mahadin, has said.
More than four in five consumers polled in a sustainability survey say that they are willing to start or are already taking action in response to climate change, according to international consultancy, Boston Consulting Group (BCG).
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.