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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 →

Winter storms, extreme cold drive billion-dollar costs in January 2019: Aon

The onset of winter was finally felt across the United States in January, as repeated winter storm outbreaks and a cold spell driven by the polar vortex phenomena drove billion-dollar economic costs, according to Aon.The insurance and reinsurance broker would not be drawn on the eventual cost to the industry 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 →

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 →

ILS’ role in paying climate related catastrophe claims to increase: Moody’s

The role of insurance-linked securities (ILS) and alternative reinsurance capital in paying catastrophe claims related to climate change is set to increase, as the insurance and reinsurance sector becomes increasingly aware of the climate risk it faces and turns to efficient capacity to help it offset them.The rating agency says read the full article →

Aon reveals new weather & climate risk transfer innovation focus

Insurance and reinsurance broker Aon is to launch a new centre which will be focused on weather and climate risk transfer innovation, as the company looks to help businesses and governments around the globe respond to the threats posed by our changing climate and weather risks more generally.The company has 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 →

Resilience Economics launched by Cedent with $500m of Nephila capacity

Resilience Economics Ltd. has been launched today by Cedent Ltd., as a new corporate finance advisory specialist focused on climate risk solutions, with an initial $500 million of capacity backing provided by strategic partner Nephila Capital Ltd.This joint-venture aims to bring together climate and weather risk capital solutions with technology read the full article →

Oasis endorsement to help insurance for climate-related risks expand

Following its launch in 2014, not-for-profit catastrophe risk organisation, Oasis Loss Modelling Framework (Oasis), has announced a global endorsement that will enable vital funding for insuring against climate risks.Launched in January 2014 after several years of development as an independent framework and risk-modelling platform for the insurance industry, Oasis looks read the full article →

Risk transfer landscape can tackle broadening climate risks: RIMS

The global threat of rising sea levels and warmer sea surface temperatures as a result of climate change is an area in which the entire risk transfer landscape must increase its efforts, and capitalise on the opportunity to improve resilience, according to risk management and reinsurance industry experts.Speaking to ratings read the full article →