Speakers at the 21st Association of Insurers and Reinsurers of Developing Countries (AIRDC) conference being held in Kathmandu called for greater cooperation and sharing of experience in disaster risk financing and insurance between AIRDC members.
ESG investing is growing in relevance across the insurance sector with 83% of insurers, led by European insurers, indicating the importance of ESG investment policies to their firms, according to BlackRock's seventh annual global survey.
A report by the International Association of Insurance Supervisors (IAIS) and the Sustainable Insurance Forum (SIF) is being addressed as the 'first important review of climate risk by an international financial standard setting body' and may get the attention of the global insurance community.
The Gulf Cooperation Council (GCC) region, while not exceptionally prone to natural catastrophes, has seen large losses from flooding, fire and other causes, says Mr Mahesh Mistry, senior director, analytics, at A.M. Best.
Flood disasters across India are on the rise in frequency and severity and they create enormous losses for those caught in the flood area. This year's catastrophic floods in Kerala state had virtually an entire state on its knees. Author and insurance expert P James shares some toughts.
Insurance claims for Typhoon Mangkhut have reached MOP200m ($25m), according to the latest figures from the Insurance Supervision Department of the Monetary Authority of Macao (AMCM).
Insurance payments to individuals affected by the powerful earthquake that hit northern Osaka Prefecture in June had reached JPY86.6bn as of 12 September, the General Insurance Association of Japan has said.
Supertyphoon Mangkhut, which made landfall in southern China on 16 September, has caused direct economic losses of at least CNY5.2bn ($760m), data from the Emergency Management Department show.
Typhoon Mangkhut's trail of destruction across Hong Kong and south China looks set to escalate Hong Kong-based insurance claims, pushing the industry back into underwriting loss, says S&P Global Ratings. The compounded effects of wind and storm surges will likely drive claims for property damage, business interruption, and autos. Furthermore, the inward reinsurance from Macau will further propel underwriting loss.
The Insurance Development Forum (IDF) has appointed Mr Denis Duverne as chair of its Steering Committee, with effect from 11 September 2018.