Hillary Clinton has called for reform of the insurance sector to ensure businesses, communities and nations are protected against the most extreme weather events.
Industry entrepreneur David Howden has called for greater private sector involvement in pre-agreed financing in order to scale up loss and damage funding, and to cap losses in climate-vulnerable countries at 10 percent of their respective GDP.
Carbon credit insurer Kita has signed a memorandum of understanding to provide insurance for the upcoming launch of Pyreg Climate Finance Solutions, a leasing scheme to deploy carbonisation systems for biochar projects.
The world is on track for 2.9°C warming above pre-industrial levels, assuming that countries adhere to current pledges under the Paris Agreement and net-zero commitments, the latest Emissions Gap Report by the UN Environment Programme (UNEP) has found.
MS&AD Insurance Group – parent company of Lloyd’s (re)insurer MS Amlin – has unveiled a new interim target to reduce greenhouse gas emissions from underwriting and investment operations by 37 percent by 2030.
Carbon credit insurer Oka is on track to begin underwriting through its new Lloyd’s syndicate in a box on 1 January 2024 to help harness the role of insurance in the sustainable development and scaling of carbon markets.
Ofir Eyal, partner and director at Marakon, outlines how the insurance sector can harness its unique capabilities to facilitate the low-carbon transition across the real economy.
Chubb has launched the Chubb Methane Resource Hub, a digital resource offering information and technical guidance from the Environmental Defense Fund on the measurement and mitigation of methane emissions.
A coalition of environmental protest groups staged campaigns outside the London offices of Chubb and AIG on Friday, demanding that the firms publicly rule out underwriting fossil fuel projects in the Democratic Republic of the Congo.
Carbon insurer Kita has signed a letter of intent with the Ecosystem Restoration Standard (ERS) to operationalise insurance for near-term delivery risk within the certification’s carbon buffer pool.
More than 30 climate and consumer protection groups have called on the International Association of Insurance Supervisors (IAIS) to take action to remedy the “patchy” global insurance regulations on climate-related financial risk that form a “regulatory blindspot”.
Environmental activist group Extinction Rebellion today staged protests outside nine (re)insurers’ offices in the City of London, calling for an end to the industry’s alleged involvement in fossil fuel pipeline and mining projects.
Carbon insurer Kita will now be able to pay insurance claims in replacement carbon credits from a proprietary carbon supplier pool, in a move believed to be among the first of its kind in the insurance industry.
Carbon insurer Oka has partnered with carbon data firm BeZero to integrate its carbon insurance solutions and modelling capabilities with the latter’s carbon project assessment data.
Following the recent AIO African Reinsurance Forum, Steven Oluoch, CEO of MNK Re Kenya, discusses how reinsures can play a key role in funding infrastructure projects in Africa to foster greater economic independence.
WTW’s Angus Duncan on why the rising spectre of climate change-related regulation and litigation is becoming a high-priority risk for directors.
Jan Pagan, specialist risk control engineer at Markel, explains how extreme temperatures could affect the renewable energy sector and what insurers should assess when it comes to insuring new and existing energy projects.
Moody’s RMS’ Claire Souch and Josh Turner examine the climate-related threats to supply chains across critical industries.
Markus Gesmann and Quentin Moore examine the growing activity around ESG in the Lloyd’s market.
Chris Stevens and Toby Goodworth examine whether the hedge fund sector can drive positive action in the climate transition.
Ahead of this year’s Dive In Festival, Munich Re’s global head of diversity, equity and inclusion Sarah Boddey explores the power of inclusion in driving a positive and profitable (re)insurance sector.
Environmental activist Lindsay Keenan argues Lloyd’s has an opportunity this month to remedy ESG shortcomings
Izik Lavy, CEO of GeoX, explores the potential of aerial imagery, AI and machine learning in securing the future of the insurance industry amid the compounding effects of climate change.
Nadine Coudel and Robert Gardner look at the climate liability risks facing the energy sector and what steps companies can take to identify and reduce these threats to support long-term success.
RPC’s Lucy Dyson explores how growing public awareness of PFAS and the associated health and environmental concerns has seen a rise in litigation in the US that parallels asbestos as a toxic tort, with claims over chemical contamination in Europe also on the rise.
The future of the Net-Zero Insurance Alliance (NZIA) is hanging in the balance having lost more than half its members following the intervention from a “deeply irresponsible” group of US Republicans citing antitrust concerns.
Clients are increasingly looking to “play offense” and differentiate themselves to carriers, particularly relating to property cat as buyers compete for limited capacity, Aon’s Lambros Lambrou has told The Insurer TV ahead of the RIMS RISKWORLD 2023 meeting.
The solution to attracting more capital and liquidity to underwrite emerging risks such as cyber is to ensure “several sources” of information are made available to enable informed decision-making, according to AkinovA’s CEO and co-founder Henri Winand.
Climate campaign group Reclaim Finance has called on Lloyd’s to “stop greenwashing” and to mandate stricter policies around the exclusion of fossil fuels to achieve meaningful change in a new report which ranks the fossil fuel underwriting policies of managing agents.
The groundbreaking community-based parametric scheme set up to provide emergency funding to New York neighbourhoods impacted by flooding has potential to scale up to cover thousands of cities across the US, according to Guy Carpenter’s Julian Enoizi.
Cat bond issuance levels are expected to reach record levels in 2023 with Aon Securities CEO Paul Schultz predicting north of $11bn as a “reasonable outcome” following a muted end to 2022 as a result of investor uncertainty and frustrations.
QBE International CEO Jason Harris has forecast the reinsurance market dynamics experienced at 1.1 will continue as 2023 progresses, with the potential need for additional pricing increases to counter inflationary impacts.
Climate events and social justice have dominated headlines in recent years, with the understanding and prioritisation of these issues only increasing.
Karen Clark has said that while scientific consensus has determined climate change is not impacting hurricane frequency, it is driving severity higher and that the industry should be prepared to absorb more loss events ranging between $20bn and $40bn.
This year has been one of significant momentum for the (re)insurance markets in relation to ESG, with the industry markedly increasing its focus on assessing risk through an ESG lens.
October saw RenaissanceRe’s 16th annual Risk Mitigation Leadership Forum hosted in London, in partnership with ClimateWise and The Insurer.
The issue of climate change cannot be solved on its own, and it is “absolutely key” that (re)insurers collaborate with other industries to tackle this problem, Cambridge Institute for Sustainability Leadership (CISL)’s Nina Seega has warned.