The Insurance Authority (IA) yesterday released claims statistics in relation to the two extreme weather events in early September 2023 - Typhoon Saola and a black rainstorm. According to the data collected from the insurance industry, the total gross claims incurred reached HK$1.9bn ($243m).
Cities in the Asia and Pacific region are vulnerable to climate change due to their geography and particular exposure to natural catastrophes and increasingly extreme weather events, says The Resilient Cities Index 2023 report, released by Tokio Marine Group and the research and business intelligence house, Economist Impact.
The World Bank Group says that combined adaptation and mitigation measures to address climate change and decarbonise the electricity sector in Tunisia could boost GDP growth to 8.8% by 2030, reduce poverty and slash energy-related emissions.
The fragility of our world order and the hazards inherent in an increasingly interconnected world have been highlighted by events such as the COVID-19 pandemic, President Putin's invasion of Ukraine and global economic slowdown in the recent years.
The accelerating climate change can increase the likelihood of widespread disruptions to the financial sector, including the insurance sector according to a new report released by the Bank for International Settlements (BIS).
The current emissions pledges to limit climate change would still put the world on track to warm by nearly 30 degree Celsius during this century according to a new report by the United Nations Environment Programme (UNEP).
The National Economic Council has strongly advised Nigeria to implement a national insurance policy against disasters, Minister of Budget and Economic Planning, Atiku Bagudu, said at a media briefing after the 137th council's meeting.
The Government Service Insurance System (GSIS) is working with the Japan International Cooperation Agency (JICA) to improve the protection of public properties and assets against disasters.
Governments, insurers and communities in Australia must work together to avoid creating two classes of Australians - those who can insure against risk and those who can't, according to Mr Andrew Hall, CEO of the Insurance Council of Australia (ICA).
The effects of climate change are becoming increasingly evident, and so too is the direct and indirect impact on construction and its re/insurance across the Middle East, according to the global law firm Clyde & Co.