The Turkish Catastrophe Insurance Pool (TCIP) has paid total compensation of TRY1,131m ($84m) in the 21 years since its establishment in 2000, according to data released by the pool.
Most Aussies are insured but their cover may not be right, according to the results of a survey commissioned by insurance giant QBE.
Many Aussies could be more prepared for extreme weather and natural disasters, according to QBE research. Just a quarter (25.6%) of Australians describe themselves and their homes as prepared or very prepared for natural disaster and weather events. The rest say they're either unprepared (22%), or only somewhat prepared (52%).
Secondary peril events are becoming more impactful and generating an increasingly larger amount of insured losses, affecting the bottom lines of personal and commercial lines property underwriters, according to a new AM Best commentary.
Economic growth goes down when the number of wet days and days with extreme rainfall go up according to a new study by a team of scientists at Potsdam Institute for Climate Impact Research (PIK).
Extreme weather events claimed 1750 lives in India in 2021. As many as 787 persons (45%) were killed due to lightning and thunderstorms followed by 759 (43%) due to floods, heavy rains and landslides.
Lloyd's, the world's leading marketplace for commercial, corporate and speciality risk solutions, yesterday released a new report to help insurers and risk managers navigate the significant overlap between geopolitical risks and climate change.
Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of NZ$36.5m ($27.1m), says the Insurance Council of New Zealand (ICNZ).
Start Network, an umbrella body of non-governmental aid agencies, has announced the purchase of a $2.5m insurance policy in partnership with African Risk Capacity (ARC) and the government of Zimbabwe. The policy is to protect more than 800,000 people in Zimbabwe from drought risk during the 2021/2022 agricultural season.
The COVID-19 pandemic has spurred further investment in green technology and sustainable projects and momentum surrounding environmental, social, and governance financing in the Middle East, a report released by the international law firm RPC says.