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
Catastrophe models must keep pace with climatology
Pioneer of catastrophe modelling urges re/insurers to switch focus from static event sets to dynamic science
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’
Insurability becoming uncertain beyond 2°C
Broker’s ecosystem resilience practice lead urges insurers to co-ordinate climate risk transfer with risk reduction
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
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
Insurers brace for active 2024 hurricane season
Early forecasts suggest a busy year but more hurricanes does not necessarily mean higher losses, analysts say
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
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
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
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
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
Insurers essential to voluntary carbon market
By derisking certain aspects of carbon forward contracts, the managing general agent hopes to accelerate trading
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
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
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
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
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
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
Ten lessons from Dubai flooding event
Dubai’s recent cataclysmic flooding highlights the urgent need for improved flood resilience and preparedness measures
Extreme weather and the path to clean energy
Climate change brings a wide array of challenges and opportunities for the insurance industry
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
Climate activists turn up the heat in 2024
Litigation remains the most significant tool for climate activists
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
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