China's national natural catastrophe resilience index (N-RI) rose to 9.0% in 2021 from 8.1% in 2020 and 7.6% in 2019, even after major flooding in Henan province in July 2021, says Swiss Re Institute in a new sigma report.
Henan Province in central China has launched a pilot scheme for catastrophe insurance in the wake of the massive floods in July 2021 that cost the province economic losses in the billions of yuan.
Due to continuous heavy rains and rain-induced flooding in recent months, the southern Chinese economic powerhouse that is Guangdong Province is going all out to protect residents and their property.
Australian Reinsurance Pool Corporation (ARPC) yesterday published initial premium rates and the reinsurance agreement relating to the Cyclone Reinsurance Pool ahead of the scheme commencing operations on 1 July 2022.
The Australian Prudential Regulation Authority (APRA) said yesterday that it had finalised amendments to the prudential framework for general insurers to support the operation of the government's cyclone and related flood damage reinsurance pool, which will be administered by the Australian Reinsurance Pool Corporation (ARPC).
The Sompo Group, one of the top three Japanese non-life insurers, has joined to the Net-Zero Insurance Alliance (NZIA) to accelerate its "SOMPO Climate Action" drive toward achieving net-zero greenhouse gas (GHG) emissions by 2050.
Floods and droughts are likely to cost major global cities $194bn annually by 2050 according to a new research.
Simply blaming climate change for the catastrophic impact of severe weather events that cause devastating damage, is not good enough according to a new report.
PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has extended its market coverage to include exposure and event loss data for the perils of wind and flood in Japan.
New data show that the destructive flood that swept through southeast Queensland and northern New South Wales in late February and early March has caused A$4.8bn ($3.3bn) in insured damages and is now the third costliest extreme weather event in Australia's history.