Insurers in New Zealand are responding to losses from recent Nat CAT events with significant pricing increases. At renewal, the industry is seeing premium rises of 20-50% in property classes and 10-20% in motor, according to Mr Mark Gustafson, general manager of Certus Insurance Brokers (CIBNZ).
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) is drawing up a roadmap and business plan that focuses on insurance, based on lessons learnt from the massive 6 February earthquakes, according to the agency's chairman, Mr Mehmet Akif Eroglu.
Earth is in 'the danger zone' as the planet's climate is beyond the harmful levels for humans, though not quite past the safety guideline for the planet as a system according to a new study by Swedish group Earth Commission.
Investors have developed strategies around climate-related risks, policies and disclosures, but haven't put the same level of focus on biodiversity and nature-related risks according to Aon's The One Brief weblog.
Agricultural insurance is not the only factor that can improve food security, according to Mr Gael Certain, head - Agriculture EMEA, and Mr Mario Wilhelm, head - Middle East & Africa Public Sector Solutions, both of Swiss Re.
The top three risks to agriculture in several African countries are drought, followed by floods and extreme weather due to global warming, according to the results of a survey commissioned by the African Insurance Organisation (AIO).
The Insurance Federation of Egypt has announced that it has formed a committee to study the establishment of a natural disaster insurance pool in the Egyptian market, with the aim of providing insurance coverage for citizens against potential natural hazards and protecting state property.
The Earthquake Commission (EQC) has secured a record level of reinsurance of just under NZ$8.2bn ($5bn), up from NZ$7.4bn last year, for New Zealand homeowners.
A survey of around 2,000 people showed that two thirds (63%) of respondents bought earthquake insurance from the Turkish Catastrophe Insurance Pool (TCIP) without knowing what the acquired policy covered, says the insurance comparison platform, sigortaladim.com.
Several players in the insurance market in Egypt are pressing the authorities to set up a compulsory insurance pool to cover climate change disasters.