Catastrophe insurance data provider PERILS has disclosed that its initial industry loss estimate for tropical cyclone Alfred is A$2.59bn ($1.67bn).
The first quarter of 2025 brought a series of devastating natural disasters across the globe and Asia was not spared from their destructive impact.
Office of the Insurance Commission (OIC) deputy secretary-general for legal affairs and inspection Adisorn Pipatvorapong held an online meeting with private insurance industry organisations to explore ways to expedite inspections and provide official documentation of liability to affected individuals.
As of 5 PM on April 13, insurance companies in Beijing had processed a total of 1,278 claims related to wind damage, with an estimated loss amount of CNY13.44m ($1.87m). A total of 268 claims have already been paid out.
In a major step toward global collaboration on disaster risk finance, four Regional Risk Pools convened in Frankfurt in April 2025 for a CEO Summit hosted by Frankfurt School of Finance & Management, to put shared commitments into action - backed by a new EUR 4.7m ($5.3m) grant supporting joint solutions, capacity building and knowledge-sharing across continents.
Aon published its Q1 Global Catastrophe Recap - April 2025 yesterday, which analyzed the natural disaster events that occurred worldwide during the first quarter of the year.
The International Association of Insurance Supervisors (IAIS) published its Application Paper on the supervision of climate-related risks in the insurance sector, following four consultations and extensive member and stakeholder engagement.
China and India are shifting towards meeting their growing electricity needs with clean energy. These are the two countries at the forefront of the drive to clean power and will help tip the balance towards a decline in fossil generation at a global level, according to the sixth annual "Global Electricity Review" published earlier this month by Ember, a UK-based global energy think tank.
Some insurers in Myanmar have temporarily stopped selling new disaster insurance policies. This is a consequence of the powerful earthquake that hit the country on 28 March this year.
Nigeria's National Emergency Management Agency (NEMA) has sounded the necessity to explore risk financing options that will guarantee early recovery from disasters and business continuity.