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Sustainability
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Climate change poses existential risk to property insurance
All players in the property insurance ecosystem must help clients and communities harness property insurance as a tool for climate adaptation, or they risk becoming irrelevant
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Pacific typhoons could prompt risk modelling updates: Chaucer
Specialty re/insurer has incorporated Pacific typhoons shifting northwards into its risk assessments, highlighting an increased likelihood of losses over the next decade
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The rise of pre-arranged crisis financing
Pre-arranged finance, such as insurance products, can help countries better plan their response compared with more traditional funding models, Centre for Disaster Protection executive director, Daniel Clarke, says
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Insurance should be the keystone of climate finance strategies: Aon
Broker’s global head of Climate Risk Advisory outlines why the UN climate talks in Belém could prove to be ‘the insurance COP’
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Banks have plenty of room for growth as climate financers
Commercial financial institutions provide about $245bn in climate finance each year, according to the Climate Policy Initiative, but net-zero targets may encourage larger outlays
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French buyers tackle insurers over ‘crimes of uninsurability’
Insurers accused of providing insufficient solutions to exposures linked to climate change at risk management conference in France
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Colorado to consider bill to publicise risk mitigation discounts
State policymakers seek to dampen high insurance rates
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Climate finance should focus on private capital, not just public funding: WWF
Public finance may dominate climate discussions, but the impact of private sector money is ‘much, much bigger’, WWF UK’s chief economist says
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California insurance commissioner backs reform package
Legislators also propose consumer protection measures
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IDF launches $9.25m drought insurance policy for Syria
New policy supports the World Food Programme’s efforts in Syria to deliver up to $9.2m in aid when drought conditions trigger a payout
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California Republican calls for cap on insurance rate rises
State would pay for insurance costs above 7% threshold, DeMaio proposes, and blames Democrats for insurance crisis
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Climate finance cannot flow into a policy vacuum: UNEP FI
UNEP FI chief, Eric Usher, outlines how the new climate action plans that countries submit to the UN Framework Convention on Climate Change can unlock the finance and insurance needed
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