IAG, the biggest non-life insurer in New Zealand, has outlined practical steps to help reduce flood risk in the country as the insurer remains committed to being a part of the solution when it comes to natural hazard-prone areas.
Around 9.2m residential properties in Turkiye lack earthquake insurance at present, 23 years after the 17 August 1999 magnitude-7.6 earthquake that hit the Marmara region.
Around 1m households (approximately 10% of the total) - defined as 'vulnerable' - spend more than four weeks of their gross annual income on home insurance, according to research report released yesterday by the Actuaries Institute.
Climate CAT events such as flooding, heat waves and drought have worsened more than half of the hundreds of known infectious diseases such as malaria, hantavirus, cholera and even anthrax according to a new research study.
The latest figures indicate that the Arctic, the planet's northernmost region, is warming four times faster than the Earth as a whole.
The estimated insurance losses from the unexpectedly severe floods earlier this month in South Korea will place pressure on the financial performance of the country's non-life insurers, Fitch Ratings says.
Scientists from South Africa, Germany, France, Switzerland, New Zealand, Denmark, the USA and the UK have collaborated for a rapid scientific analysis to assess to what extent human-induced climate change altered the likelihood and intensity of the exceptional heat wave in July 2022 in UK.
The worst possible climate change catastrophic scenarios, including collapse of society or the potential extinction of humans are being ignored according to a group of global scientists.
More than 60 entities regulated by the Australian Prudential Regulation Authority (APRA) are generally aligning well to the regulator's guidance on managing the financial risks and opportunities that may arise from a changing climate, especially in the areas of governance and disclosure.
Non-life insurers say that they welcome revised rating schedules for earthquake, typhoon and flood risks that will apply to new and renewed insurance policies from 1 November 2022. The rates had previously not been reviewed for the past 30 years.