Tower Insurance yesterday advised it has lodged formal proceedings against the government-run Earthquake Commission (EQC) for more than NZ$80m ($48m) which the insurer said it is owed for rectifying building issues on EQC's behalf.
Extreme weather patterns could increase the risk of pandemics occurring, according to a climate expert at AIR Worldwide.
Ping An and other Chinese insurers should reconsider their support for any new coal projects, encourage existing coal company clients to accelerate their transition to renewable energy sources, and ramp up their services for the wind and solar industry, urges Mr Peter Bosshard directs the finance programme of the Sunrise Project which aims to scale social movements to drive the transition from fossil fuels to renewable energy.
More than 40 organisations - including major industrial corporations such as Tata, Godrej, Mahindra and Wipro through their various philanthropic organisations, plus academic thinktanks, business schools, aid agencies, and the government's scientific advisers - have rallied together to co-operate on climate solutions.
The Global Wind Energy Council (GWEC), an international association for the wind power industry, has predicted rapid acceleration in the coming years in wind energy capacity in the Middle East and Africa. By 2024, GWEC said MENA will have 10.7 gigawatts (GW) of wind energy capacity, a 167% increase from now.
The Hong Kong government has gazetted two insurance amendment Bills relating to insurance-linked securities (ILS) and direct regulatory powers over the holding companies of multinational insurance groups. The Bills were gazetted last Friday.
The Chinese government is said to be debating whether to ease restrictions on the amount of harmful particles that vehicles emit from their tailpipes -- a measure known as particle number, or PN, reported Bloomberg.
A shortage of freshwater looms on the horizon in the GCC if the current trend of water consumption in the region continues, according to findings by Orient Planet Research (OPR), an Orient Planet Group venture.
According to a recent survey conducted by QBE Singapore, only 1 in 5 Singaporean SMEs felt that the impact of climate change was a relevant issue for their business.
More than 8m residential properties in Turkey still need to be covered by earthquake insurance, according to Mr Resit Cakas, president of the Association of Insurance Agencies (SAB).