Climate change & climate risk related news

Analysis from S&P Global Ratings suggests that reinsurance firms may be underestimating their natural catastrophe exposures by anywhere from 33% to as much as 50%, as they grapple with incorporating climate change into their decision-making process.

The potential impact from climate change on natural catastrophe P&C insurance and reinsurance claims is the biggest fear of investors in the sector polled by equity analysts at Bank of America.

The insurance-linked securities (ILS) market has “breakout” potential as the sector returns to growth, increasing numbers of new sponsors enter the market, including from outside of insurance and reinsurance, but the real catalysts for future expansion could be climate change and ESG, Fitch Ratings believes.

Research from Ceres, the non-profit focused on sustainability challenges such as global climate change and water scarcity and their implications, has found that major US banks have more than $250 billion of exposure to physical climate risks annually sitting in their loan portfolios.

Global Parametrics has collaborated on a new climate risk transfer product that integrates parametric risk transfer with the provision of debt financing to microfinance organisations and initiatives.

Global reinsurance company Swiss Re forecasted that global premium growth is going to continue, as the need for insurance continues to grow, alongside heightened risk awareness, while client needs evolve at the same time.

Global reinsurance company Swiss Re expects that property and casualty (P&C) insurance premiums will grow considerably over the next two decades, with a near doubling expected. Climate risk will be a major driver of this, resulting in a significant boost to new property P&C premiums written, but also to expected insured natural catastrophe losses.

It’s always been clear that the coastline is a popular place to live and the high-value homes that are increasingly built in some coastal regions ramp up insured exposure values in the face of storms and hurricanes. But it’s not just on the coasts, as other parts of the United States which are particularly exposed […]

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has launched an intriguing new solution named Captive+Parametric, which is designed to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive structures.

Climate change is running away from us, is the stark warning from the Intergovernmental Panel on Climate Change ‘s (IPCC) Report, which was published today.