Sasria SOC, a state-owned non-life insurance company, is currently participating in engagements with government, regulators and other stakeholders on potential ways to expand its coverage, according to South Africa's Finance Minister Mr Enoch Godongwana.
The impact on Thailand's insurance industry of floods in parts of the country is manageable, says S&P Global Ratings (S&P).
The destructive typhoon Yagi caused severe damage to 26 provinces and cities in northern Vietnam, including key economic zones like Hai Phong, Quang Ninh and Hanoi. These areas host significant industries, contributing 25.81% of GDP and 17.27% of Vietnam's export value, according to FiinGroup.
Boomers and older - those aged 58 and up - are the least likely to be aware of the danger of bushfires, despite having lived through more such fires than any other generation, according to the findings of a survey by Queensland-headquartered insurer Youi.
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.