The SEADRIF Insurance Company has made a payout of $750,000 following the passage of typhoon Yagi which devastated eight provinces in Lao PDR, including Vientiane, Phongsaly, Luangnamtha, Oudomxay, Bokeo, Luangprabang, Xiengkhuang and Xayabouri.
Even as the Insurance Council of Australia (ICA) renewed its calls to stop building on floodplains, housing projects on floodplains continue to be approved by the local government authorities.
The Insurance Council of Australia (ICA) has released a charter outlining the principles and key actions for addressing the challenges of extreme weather events, as well as disaster preparation, response, and recovery.
Floods and landslides triggered by recent heavy rainfall last week have caused losses of at least NPR16.5bn ($123m) across Nepal, according to Mr Eaknarayan Aryal, chief secretary of the Government of Nepal.
The Finance and Expenditure Committee of the New Zealand Parliament yesterday issued its final report on a cross-party inquiry into climate adaptation. Among its recommendations is the proposal for the government to investigate the idea of proactive financing instruments, working alongside insurance companies and banks.
To promote Tokio Marine Group's initiatives to tackle climate change in relation to insurance underwriting, the Japanese non-life insurance giant has set a group-based target for decarbonisation-related insurance premiums as an interimgoal towards realising a decarbonised society, announced Tokio Marine Holdings president and group CEO Satoru Komiya.
The Office of the Insurance Commission (OIC) has estimated that floods in the northern and northeastern regions of Thailand have caused losses of more than THB420m (13m) for insurers to date.
Shanghai's property insurance sector had received a total of 58,700 claims totalling CNY1.225bn ($175m) as of 15:00 on 24 September 2024 for damages arising from typhoons Bebinca and Pulasan, according to the Shanghai Insurance Association.
The Ministry of Economy and Finance, Bank Al-Maghrib (BAM), the Insurance and Social Security Supervisory Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC) have adopted a new strategy for the development of climate finance by 2030.
Tunis Re is moving towards a structured and ethical ESG approach, with particular attention paid to the social and environmental issues of its operations, as well as to the company's social responsibility initiatives, according to Mr Mustapha Kotrane, head of the technical division of the reinsurer.