Climate CAT events such as flooding, heat waves and drought have worsened more than half of the hundreds of known infectious diseases such as malaria, hantavirus, cholera and even anthrax according to a new research study.
The latest figures indicate that the Arctic, the planet's northernmost region, is warming four times faster than the Earth as a whole.
The estimated insurance losses from the unexpectedly severe floods earlier this month in South Korea will place pressure on the financial performance of the country's non-life insurers, Fitch Ratings says.
Scientists from South Africa, Germany, France, Switzerland, New Zealand, Denmark, the USA and the UK have collaborated for a rapid scientific analysis to assess to what extent human-induced climate change altered the likelihood and intensity of the exceptional heat wave in July 2022 in UK.
The worst possible climate change catastrophic scenarios, including collapse of society or the potential extinction of humans are being ignored according to a group of global scientists.
More than 60 entities regulated by the Australian Prudential Regulation Authority (APRA) are generally aligning well to the regulator's guidance on managing the financial risks and opportunities that may arise from a changing climate, especially in the areas of governance and disclosure.
Non-life insurers say that they welcome revised rating schedules for earthquake, typhoon and flood risks that will apply to new and renewed insurance policies from 1 November 2022. The rates had previously not been reviewed for the past 30 years.
One of Australia's biggest financial services companies, Brisbane-headquartered Suncorp has announced that its insurance operations in Australia (dubbed 'Insurance Australia') reported profit after tax of A$174m ($122m) for the financial year ended 30 June 2022 (FY22), a 68.2% fall compared to FY21.
The Ministry of Interior has launched a website for car owners in Fujairah to facilitate the filing of incident reports for their vehicles that were damaged last month by devastating floods.
Global insured losses ($39bn) from natural disaster events in 1H2022 were above the 21st Century average, up 18%, according to preliminary estimates from Aon's 'Global Catastrophe Recap'. The report said losses were driven by persistent severe convective storm activity, predominantly in the US and Europe. Aon expects further loss development in the coming months as the full industry impact from several large events are realized.