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Physical & financial effects of climate change are accelerating: WMO

The physical and financial impacts of climate change are accelerating, according to the World Meteorological Organization, who says that record greenhouse gas concentrations are pushing global temperatures towards increasingly dangerous levels.The impacts and effects of climate change on the frequency, intensity and overall occurrence of severe weather related catastrophes and read the full article →

Yesterday’s climate tail risk closer to today’s central scenario: Mark Carney

Insurance and reinsurance companies are on the "front line of managing the physical risks from climate change" and are now aware that "yesterday’s tail risk is closer to today’s central scenario," according to Mark Carney, Governor Bank of England.Of course insurance-linked securities (ILS) funds and their investors are also on read the full article →

Climate catastrophe risk models launched by AbsoluteClimo

AbsoluteClimo, a climate and weather modeling, forecasting and risk management firm based in Hawaii, has launched what it calls the "World's First Catastrophic Risk Models Linked To Skillful Climate Physics Prediction."Climo๏Cats (ClimoCats), as its climate catastrophe risk models are called, will enable insurance, reinsurance and insurance-linked securities (ILS) market participants read the full article →

ILS at forefront of monitoring for climate change impacts: John Seo

The impacts of climate change present challenges for all industries and markets, but over the last two decades, the insurance-linked securities (ILS) sector has been at the forefront of monitoring new or unexpected impacts, according to John Seo, Co-founder and Managing Director of Fermat Capital.“New or unexpected impacts from climate read the full article →

Investors increasingly ask about climate change: Adam Beatty, Nephila

Capital market investors that participate in the insurance-linked securities (ILS) or reinsurance linked investing space are increasingly asking questions about the potential impacts climate change could have on the risk landscape.This is according to Adam Beatty, Managing Director of Nephila Advisors, a division of the world’s largest ILS manager, Nephila read the full article →

Integrate climate science into catastrophe modelling: Geneva Association

Integration of the latest findings in climate science into catastrophe risk modelling would increase its usefulness to society, while adopting a forward-looking approach involving climate change scenarios would also be beneficial, according to the Geneva Association.In a report, the Geneva Association highlights that climate science and the ability to look read the full article →

New parametric reef insurance & resilience product to be developed

A new initiative to develop a parametric insurance product to protect and enhance the resilience of coral reefs and the communities that rely on them is being developed by Willis Towers Watson through its Global Ecosystem Resilience Facility (GERF) and the Mesoamerican Reef Fund (MAR Fund).An agreement has been reached read the full article →

Climate change presents both P&C threat & opportunity: Moody’s

Climate change will create challenges and also opportunities for the property & casualty insurance and reinsurance industry, according to rating agency Moody's. However the threats presented by a changing climate are likely greater and Moody's says this has a "net negative credit impact on the industry."Moody's highlights a number of read the full article →

Willis Towers Watson launches global insurance facility for resilience

Insurance and reinsurance brokerage Willis Towers Watson (WTW) has today announced the launch of the Global Ecosystem Resilience Facility, an insurance facility designed to help strengthen the resilience of ecosystems and their communities, through the use of efficient risk transfer where catastrophe bonds may feature.The Global Ecosystem Resilience Facility (GERF) read the full article →

World Bank pushes city climate resilience, with role for risk transfer

The World Bank has collaborated with the Global Covenant of Mayors for Climate & Energy to provide technical assistance and $4.5 billion in funding to help cities around the world better prepare for and respond to the impacts of climate change, under the World Bank’s City Resilience Program (CRP).Recently launched read the full article →