The main prerequisite for various key initiatives of the general insurance industry is a relationship of trust with customers and business partners and disciplined activities, according to Mr Keisuke Niiro, chairman of the General Association of Japan (GIAJ).
The Insurance Council of Australia (ICA) is emphasising the need for early bushfire preparation so property owners and tenants can reduce risk and safeguard their homes and property.
The sea-ice surrounding Antarctica is well below any previous recorded winter level according to new satellite data. According to experts, this is a worrying new benchmark for a region that once seemed resistant to global warming.
A new study has revealed that of the nine boundaries of the planetary boundaries' framework, six boundaries have been transgressed, suggesting that Earth is now well outside of the safe operating space for humanity. Only three important health markers are considered safe.
Insurers have so far paid out NZ$2.053bn ($1.22bn) of a newly updated estimate of the cost of general insurance claims for the twin climate disasters of the Auckland Anniversary Weekend floods and Cyclone Gabrielle of $3.5bn across 112,812 claims.
The Australian Consumers Insurance Lobby (ACIL) has said that the Cyclone and Cyclone-Related Flood Reinsurance Pool needs improvement.
The Insurance Council of Australia (ICA) has launched a new report outlining the important role insurers can play in managing and reducing risk in the natural environment.
The devastating earthquake that struck Morocco on 8 September 2023 affected an area with low insurance penetration. However, a new commentary from AM Best notes that a parametric insurance arrangement covering part of Morocco's National Catastrophic Event Coverage Scheme is expected to be triggered and could result in a maximum payout of MAD2,750m (approximately $270m).
Members of the Moroccan Federation of Insurance (FMA) are making a donation of MAD150m ($15m) to aid in recovery following the aftermath of the 8 September Al-Haouz earthquake.
The amount of compensation that insurance companies would pay in Morocco due to the large losses caused by the 8 September 6.8-magnitude quake that struck in the High Atlas Mountains, is expected to reach $300m, according to Mr Alaa El-Zoheiry, chairman of the Insurance Federation of Egypt.