Climate Insurance
2024 insured losses exceed decade average at $108b
Total economic losses for the first three quarters reached ~$280b.
2024 insured losses exceed decade average at $108b
Total economic losses for the first three quarters reached ~$280b.
Milton’s $50b losses won't impact rated insurers: Fitch Ratings
This will bring 2024’s total global insured losses to over $100b.
Hurricane Milton could add to insurers’ $60b NatCat losses in 2024
Global reinsurers could see their claims payouts rise.
SEADRIF issues $3m payout to Laos
Donor governments include Japan and Singapore.
Super Typhoon Yagi triggers IFRC insurance policy
Thanks to disaster relief demands in 2024 surpassing the fund’s $40m threshold.
SEADRIF allocates $750k for Lao flood relief
The payout was initiated on 20 September, just five days after severe flooding.
Typhoon Yagi triggers reinsurance reassessment in Vietnam
Business interruption claims are expected to be manageable.
Parametric insurance market set to double by 2033
The manufacturing sector held the largest share of the market in 2023.
S&P warns of strained profitability for insurers due to climate events
Last year was the fourth straight year insured losses surpassed $100b globally.
Zurich Financial Services, Mandala unveil first climate risk index for tourism
Half of Australia’s tourism assets are classified in an elevated risk category.
Climate insurance market set to double by 2030
Insurers are adapting through central hubs or establishing vertical business units.
Japan’s Shanshan brings major losses
The typhoon reached peak intensity on 27 August.
Insufficient insurance amplifies banks' climate risk
The lack of coverage raises silent risks in the banking industry, Aon said.
Australia’s annual weather-related insurance costs more than double
Insured losses increased to 0.7% of the GDP.
Australian pension funds turn to catastrophe bonds for higher returns
Australia’s pensions industry brings over A$2b inflows weekly.
Global insured NatCat losses hit $60b in H1 2024
The US alone experienced 12 severe storms in H1.
Only a fifth of Asia, Africa’s natural disaster losses insured in H1 2024
Total losses from natural disasters amounted to $40b.
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Insurers need cultural overhaul in digital push
![Insurers need cultural overhaul in digital push]()
Digitalisation seeks to simplify processes, not complicate things.
Digitalisation seeks to simplify processes, not complicate things.
