Natural disasters caused economic losses of over $772m in the Middle East in 2022, according to the report "2023 Weather, Climate and Catastrophe Insight" published last week by global insurance and reinsurance broker Aon.
Re/insurers can help solve the climate crisis by matching capital to risk where it's needed, such as via clean tech solutions, and by de-risking projects and technology development, which will encourage faster and more meaningful investment, says insurance and reinsurance broker Aon.
Global professional services provider EY has announced the launch of its Middle East and North Africa (MENA) Climate Change Readiness Index (CCRI), a pioneering tool designed to help countries in the region assess and improve their resilience to the impacts of climate change.
Ice in Greenland is defrosting, leading to melting events that could raise sea levels by almost 51cms by the end of the century according to a new research study.
Nearly 50 environmental and social (E&S) shareholder proposals would have won majority support in 2022 if asset managers including BlackRock, State Street and Vanguard had voted for them according to a new analysis.
Renewables will remain the darling of the global energy transition, yet risk managers will face multiple challenges arising from a 'new trilemma' according to Renewable Energy Market Review 2023 published by WTW.
The UN convened Net-Zero Insurance Alliance (NZIA) has launched?the alliance's first target-setting protocol.
Australian Reinsurance Pool Corporation (ARPC) has announced that effective 1 January 2023, the Sure Insurance brand has joined the Cyclone Reinsurance Pool (cyclone pool) as an insurer customer through their product issuers Liberty Mutual Insurance Company, Australia Branch, trading as Liberty Specialty Markets, and Pacific International Insurance.
The Australian Actuaries Climate Index recorded the third highest index value in Spring 2022 since the Index was created. This was primarily driven by extreme rainfall, especially in the south-eastern parts of the country, according to a report by the Actuaries Institute.
Every dollar spent on pre-disaster risk reductions saves between $6 and $13 in damages, however, 88% of disaster management funds are allocated to post-event response.