
Sustainability

Low-severity storms to cost insurers $60bn in 2023 : Swiss Re
Severe thunderstorms were the main contributor to losses, the reinsurer says

Industry throws weight behind sustainable finance initiative at Cop28
Alliant, Axa, Howden, Mosaic Insurance, Munich Re and WTW back sustainable finance initiative and task force agreed by multilateral banks at the climate talks in Dubai

Insurance 'cannot be an afterthought' in climate discussions
Insurance will play a pivotal role in climate mitigation and adaptation, California’s insurance commissioner, Ricardo Lara, says

Insurers can help banks rethink risk to reach net zero
HSBC's European head of climate, Tim Ash Vie, says insurers may be needed sooner rather than later in the risk structuring process

Hillary Clinton calls for insurance reform at Cop28
The former US secretary of state warns insurers against shirking responsibility for providing climate risk cover

Florida's Citizens comes under US Senate scrutiny
Budget committee examining whether the last resort insurer can withstand future disasters with the prospect of rising sea levels

Cop28 opens with ‘breakthrough deal’ on loss and damage fund
Delegates meeting at the UN climate talks in Dubai have agreed on the operationalisation of a fund that will help compensate vulnerable countries coping with loss and damage caused by climate change

Decarbonisation challenge requires the ‘catalysing role’ of insurance: Golnaraghi
Geneva Association’s director of climate change says insurers can help drive efforts toward the $8trn needed in clean energy investments a year to reach net zero

Sustainable aviation fuel project ‘could be a template for insurers’
Founded by Bill Gates, Breakthrough Energy Catalyst funds and invests in first-of-a-kind commercial projects for emerging climate technologies

Cytora partners with ZestyAI on climate risk modelling
Insurtech integrates ZestyAI’s climate risk models into its risk assessment platform

ID Comment: Re/insurers face extinction if they don’t adapt to climate change
Perhaps reinsurers should gather for talks, not in Monte Carlo and Baden-Baden, but in one of the vulnerable countries that suffer the most from floods, droughts and storms, despite contributing the least to climate change

Re/insurers need to take a fresh look at risk for the sake of the climate
With Cop28 just around the corner, climate experts from Gallagher Re, Munich Re, Zurich Insurance and WTW discuss ways re/insurers can become more engaged with climate risk
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