Catastrophe insurance is an effective disaster management tool, with the catastrophe insurance system being much more than catastrophe insurance products, said Mr Zheng Gongcheng, deputy director of the Expert Committee of the China National Commission for Disaster Reduction and president of the China Association of Social Security.
Property insurance premiums across New Zealand have increased by nearly 30% in just 18 months, with more insurers now pricing down to address level as their risk modelling becomes more sophisticated.
The property insurance market in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8%. The property insurance portfolio in APAC wrote around $93bn in written premiums and this is expected to touch $152bn in 2028 according to a new report by GlobalData.
The Australian Consumers Insurance Lobby (ACIL), a consumer advocacy group, has stressed the urgent need to address the disparity in insurance premiums between northern and southern Australia, advocating for a fairer and more equitable system.
Global Parametrics, a CelsiusPro Group company, has partnered with One Acre Fund, an agricultural service provider offering financing and training to smallholder farmers, to provide financial protection to such farmers in Zambia and Malawi against the financial strain of losing their crops due to drought.
The Insurance Council of New Zealand (ICNZ) is urging the government to take a leadership role on climate adaptation and build New Zealand's resilience against the impact of climate change on lives and property.
Profits at UAE insurance companies' profits could plunge by up to one-fourth in the second quarter due to unprecedented rains in April, which caused severe property and vehicle damages.
Insurance companies in several flood-hit provinces and regions in China have received a cumulative number of 95,000 claims involving a combined total of CNY3.21bn ($442m) in claim amounts.
QBE Insurance, one of the world's top 20 general insurance and reinsurance companies, is focused on improving its claims support for customers amid recent severe weather events, drawing from insights gained following the 2022 east coast floods.
Several major challenges will influence China's climate action in the next five years, according to the findings of an in-depth investigation of China's climate-related policies, politics, governance, and international relations.