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Parametrics: The future opportunity is already upon us

As climate change becomes a topic of increasing focus and with regulations poised to get tighter, the ability to customise parametric insurance solutions suggests that going forward, the product set is going to expand, according to industry experts. “When I look at available products today, I am quite certain that in read the full article →

G7 leaders commit to expand climate & disaster risk insurance

After a weekend of discussions in Cornwall, UK, leaders of the G7 (Group of Seven) economies have made a range of commitments to expanding climate and disaster risk insurance, alongside other climate financing pledges. Climate risk and resilience is one of the hottest topics for global leaders this year, the G7 read the full article →

Alliance of CEO’s call on G7 & world leaders to scale up climate risk transfer

With the G7 meeting in Cornwall, UK beginning tomorrow and the COP26 only five months away, CEO's of major global corporations are calling on world leaders to scale up climate risk transfer as part of the financial response to climate change. The Alliance of CEO Climate Leaders is a global community read the full article →

More & better “catastrophe-triggered” instruments needed: UN Sec-Gen Guterres

United Nations (UN) Secretary General António Guterres has again said that the world needs more catastrophe-triggered financing and better instruments to support the delivery of climate financing, to enhance disaster resilience, fund adaptation measures and finance climate risk. Speaking today at the Insurance Development Forum's (IDF) Summit 2021, UN Secretary General read the full article →

Demex democratises access to climate data useful for risk transfer

The Demex Group, a climate risk focused insurtech that aims to deliver climate-resilience through financial risk solutions on a global scale, has launched a new initiative through which it aims to democratise access to climate data that is useful for risk transfer, insurance or reinsurance transactions. The Demex Group launched last read the full article →

ERS ILS to get climate risk insights from AbsoluteClimo & AKR Zell

ERS ILS Ltd., the dedicated insurance-linked securities (ILS) management division of specialty insurance and reinsurance player ERS, is set to benefit from climate-finance prediction modeling and risk transfer analytics services provided by AbsoluteClimo and AKR Zell. ERS Administration Services Ltd., which is a unit of ERS domiciled in Bermuda, has signed-up read the full article →

US hurricane insured losses could rise 24%, EU flood 59% by 2050: RMS

Catastrophe risk modelling specialist RMS has said that average annual insurance industry losses from North Atlantic hurricanes could increase by 24% by 2050, while European floods could drive 59% more in insured losses by the same year. This is according to new risk models launched by RMS yesterday, as a suite read the full article →

Kettle hires Kevin Copeland in Bermuda as its CFO

Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) reinsurtech company, has announced another key hire in Bermuda, bringing onboard Kevin Copeland, an executive with collateralized reinsurance experience as its Chief Financial Officer (CFO). Copeland had previously spent time working at insurance-linked securities (ILS) market facilitator Tokio Solution Management on the read the full article →

Advances in data, new participants point to parametric growth: Artemis Live

Interest in parametric risk transfer and insurance is on the rise as the immediacy and availability of data improves and new types of market participants enter the fray, suggesting growth is on the horizon, according to industry experts. During yesterday’s Artemis Live webcast, titled The Power of Parametric Solutions for Climate read the full article →

Kettle hires Haddrell from Sompo Int. as Chief Underwriting Officer

Kettle, a deep-learning and artificial intelligence (AI) focused reinsurtech start-up, has made a key hire as it builds out its reinsurance platform, appointing William Haddrell, formerly of Sompo International, as its Chief Underwriting Officer. Haddrell had been an underwriter and portfolio manager at the Sompo International owned third-party reinsurance capital and read the full article →