catastrophe insurance

Developing a system for catastrophe insurance, reinsurance and a catastrophe fund, across a country as large, diverse and affected by so many natural catastrophe perils as China, is a “very difficult project” according to the China Insurance Regulatory Commission.

The first catastrophe insurance pilot program has been launched in the Shenzhen, China, as the government looks to expand penetration of catastrophe insurance covers across the nation.

We’ve said for a number of years that one area where the reinsurance convergence markets, where insurance, reinsurance and capital markets come together, can find growth is in the underinsured and rapidly expanding developing economies of the world. A report published today by Lloyd’s of London highlights this opportunity by warning of an annualised $168 […]

According to the International Labour Organisation micro-insurance alone may not be enough to protect the poor in developing nations from natural disasters and weather related catastrophe events. Where extreme weather events and disasters are concerned the ILO recommends the use of what they have termed meso-insurance or macro-insurance schemes as micro-insurance may be too localised […]

A new bill which has been introduced this week seeks to make the District of Columbia into an international financial center for catastrophic insurance reserves to rival the likes of Bermuda and the Cayman Islands. Congresswoman Eleanor Holmes Norton has introduced the District of Columbia National Disaster Insurance Protection Act this week.

Members of the Association of Southeast Asian Nations (ASEAN) have agreed to press ahead with plans for a disaster insurance fund after a meeting of their finance ministers last Friday in Bali. The ministers agreed that a regional disaster and catastrophe insurance facility is essential to deal with events such as earthquakes, typhoons and tsunamis […]