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.
The Government will enter into a funding arrangement with councils in cyclone and flood-affected regions to support them to offer a voluntary buyout for owners of residential properties designated as Category Three properties, said Mr Grant Robertson, Cyclone Recovery Minister, yesterday.
The Turkish Catastrophe Insurance Pool (TCIP) has started studies on a plan to double the maximum disaster insurance coverage to TRY1.28m ($61,850) from TRY640,000 at present for a residential property.
Asia could face serious and urgent water challenges ahead as climate change impacts the continent's 10 mighty rivers that flow through 16 Asian countries according to a new report.
The Institutional Investors Group on Climate Change (IIGCC) has released a new report outlining how index providers can enhance net-zero benchmarks.
India lost around 138,300 lives in 573 disasters linked to extreme weather and climate change between 1970 and 2021 according to World Meteorological Organisation (WMO).
The Algerian government intends to review the country's 20-year-old compulsory natural disaster insurance and victim compensation law.
The insurance industry is playing an increasingly important role in supporting disaster prevention and mitigation, intensifying the deployment of technology in disaster risk management.
Several global reinsurers have reported estimated losses arising from the devastating earthquakes in Turkiye on 6 February, as they released their 1Q2023 financial statements.