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Climate adaptation and resilience

With 2023 the hottest year since global records began, the debate about climate change is no longer how to reverse global warming, but rather how to adapt to this new reality. For re/insurers, it means transforming themselves from agents of risk transfer to facilitators of risk reduction. And not only for insureds but also for the uninsured.

Triple planetary crisis is an unprecedented generational opportunity

The insurance industry has a triple role – as risk manager, insurer and investor – in building climate-resilient communities and supporting the transition to a net-zero emissions economy

Climate change Special Report

Catastrophe models must keep pace with climatology

Pioneer of catastrophe modelling urges re/insurers to switch focus from static event sets to dynamic science

North America International Property

Insurers must help world adapt to new climate reality

Milken Institute annual conference was set in the context of record-breaking climate events which are ‘just a preview of worse to come’

International Property Climate change

Insurability becoming uncertain beyond 2°C

Broker’s ecosystem resilience practice lead urges insurers to co-ordinate climate risk transfer with risk reduction

Willis Towers Watson Climate change Property

Insurance looks to climate scenarios, but are they the right tool?

Regulators urge using scenario analysis to test solvency risk, but this may not be useful for capital planning

International Climate change Regulation

Climate should be in every conversation about risk

Just as they faced ‘silent cyber’, re/insurers must be alert to ‘silent climate’, Aon’s global head of climate risk advisory warns

International Aon Property

Insurers brace for active 2024 hurricane season

Early forecasts suggest a busy year but more hurricanes does not necessarily mean higher losses, analysts say

International North America Property

In climate risk analysis, do not be blindsided by numbers

Re/insurers should think about climate data storylines, rather than fixating on modelling outputs, Lloyd’s director of portfolio risk management, Kirsten Mitchell-Wallace, says

International Climate change Big Interview

Insurers ask whether their policy pays out cash or carbon

The growth of carbon credits creates a new insurance market with new business models – and some insurers are redeeming policies in carbon credits instead of cash

International Climate change Specialty

Climate risk demands a fresh take on investment return

The real currency of adaptation and resilience is natural capital, the director of Resilient Planet Finance Lab says

International Property Climate change

Clean energy is much more than a climate change solution

Broker’s head of renewables, power and energy describes an evolving market that embraces climate, security of supply and geopolitical risks

International Energy Special Report

Insurance sector's interest in carbon capture market gathers pace

Aon has become the latest company to create a product supporting the emerging carbon capture and storage sector

International United Kingdom Aon

Insurers essential to voluntary carbon market

By derisking certain aspects of carbon forward contracts, the managing general agent hopes to accelerate trading

International Specialty Distribution

US insurance regulators increase focus on climate risk mitigation

The National Association of Insurance Commissioners has made property improvements central to its new climate resilience strategy, but some fear these efforts may not be enough

United States Property Climate change
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What re/insurers can do for climate adaptation and resilience

As the world’s biggest risk aggregators, re/insurers can play a crucial role in adaptation and resilience to climate change, UN official Dirk Wagener says

International Property Risk Management

Zurich Malaysia highlights takaful for climate-vulnerable communities

Islamic insurance can enhance financial resilience to impacts of climate change, the chief executive of Zurich General Takaful Malaysia Berhad says

Malaysia Zurich Property

Re/insurers invited to learn ocean science for human good

Arizona State University and Bermuda Institute of Ocean Sciences ‘uniquely placed’ to offer insights into ocean ecology, industry veteran Stephen Weinstein says

North America Big Interview Risk Management

Earth observation is a game-changer for climate resilience

Executives at Finnish microsatellite maker Iceye outline how fast and reliable natural catastrophe data before, during and after events creates a ‘sweet spot’ of resilience

International Property Special Report

Education key to mitigating basis risk in parametric policies

Miller's head of parametric solutions, Alice Glenister, explains how to present parametric insurance to insureds

International Property Brokers

Ten lessons from Dubai flooding event

Dubai’s recent cataclysmic flooding highlights the urgent need for improved flood resilience and preparedness measures

United Arab Emirates Property Special Report

Extreme weather and the path to clean energy

Climate change brings a wide array of challenges and opportunities for the insurance industry

North America International Property

Insuring credits to make carbon market credible

Chris Slater, the chief executive of Lloyd’s syndicate-in-a-box Oka, discusses the role of insurance in carbon credit markets

International Lloyds Specialty

Climate activists turn up the heat in 2024

Litigation remains the most significant tool for climate activists

International Climate change Legal focus

Lessons from the challenge to UK's net zero strategy

Court decision serves as a reminder to insurers that climate change policies will be scrutinised closely

United Kingdom Climate change Legal focus