Australian Reinsurance Pool Corporation (ARPC) is in the process of reviewing the current Cyclone Reinsurance Pool premium rates and is considering minor changes that would be applicable from 1 April 2025.
Insurance companies in China had received 18,400 claims related to rain-caused damages as of 12pm on 23 June.
The Commonwealth, state and territory building ministers have decided to include climate resilience as a specific objective of the Australian Building Codes Board (ABCB) from 2025.
New NRMA Insurance research has highlighted the mental health impacts of Australia's changing climate, with 80% of Australians surveyed stating they feel anxious about the impact of extreme weather.
Marsh, the world's leading insurance broker and risk advisor and a business of Marsh McLennan, yesterday announced the launch of the Centre for Climate Adaptation and Resilience Excellence (CCARE).
General insurers in Japan have paid out a cumulative JPY90.97bn ($579m) in claims as of 31 May 2024 for the 1 January Noto Peninsula Earthquake, announced the General Insurance Association of Japan (GIAJ).
The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have developed a blueprint for a platform that integrates regulatory and climate data to help financial authorities identify, monitor and manage climate risks in the financial system.
Secondary perils can no longer be regarded as secondary concerns as they are becoming pivotal factors to consider in the global risk landscape, says a blog posted on the website of the global law firm, Norton Rose Fulbright.
Total insured losses arising from the 2024 Gulf Floods event are estimated to exceed $1.6bn and could reach as high as $2.4bn for the UAE, of which Motor represents ~10%, according to an analysis by Guy Carpenter, with information available as of 30 May 2024.
The Insurance Council of New Zealand (ICNZ) is calling for the Fast-Track Approvals Bill to bolster resilience and ensure development projects safeguard people and property against natural hazard risks such as flooding.