A new report by Lloyd's of London will help insurers and risk managers navigate the significant overlap between geopolitical risks and climate change.
Two-thirds of executives participating in a research study said their companies are 'very concerned' about climate change, and 79% believe the world is at 'a climate change tipping point'.
After three consecutive years (2018-2020) of economic losses topping $100bn from Nat CAT events, the toll in Asia Pacific (APAC) fell to $78bn in 2021. This was 31% below the 2000-2020 average ($113bn) on an inflation-adjusted basis, says Aon, a global professional services firm that provides risk, reinsurance, retirement, and health solutions.
The Earthquake Commission's (EQC) new next-generation loss modelling capability will boost its ability to plan for future natural disasters and respond to them when they happen, the organisation says.
Tower Limited is in the early stages of assessing the impact of the significant eruption of underwater volcano Hunga-Tonga-Hunga-Ha'apai and subsequent tsunami in Tonga and surrounding areas, the insurer says in a statement lodged with the stock exchange.
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).