resilience bond
Insurance Task Force looks to resilience cat bonds for Kenyan agriculture
The Insurance Task Force (ITF), an initiative working as part of His Royal Highness The Prince of Wales’ Sustainable Markets Initiative (SMI), is exploring the potential for catastrophe bonds to play a role in a resilience focused Kenyan agricultural insurance solutions to cover drought risks. The ITF has published a new 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 →
Climate change could take 18% off global GDP, warns Swiss Re
Driving home the importance of climate risk mitigation, resilience building and also the role of insurance or reinsurance in providing climate risk transfer, global reinsurer Swiss Re warns that the world's economy risks a significant hit as the climate changes. If no mitigating actions are taken to prevent or build resilience read the full article →
Climate to drive massive demand for contingent risk capital: Douglas, ILS NYC 2021
The deepening of the world's understanding, measurement and valuation of climate risks is going to drive a massive demand for contingent risk capital, which parametric triggers and insurance-linked securities (ILS) will be well-suited to serve, Rowan Douglas of Willis Towers Watson explained during our ILS NYC event this week. Rowan Douglas, read the full article →
“Time to act” as climate role in disaster losses increases: Jeworrek, Munich Re
It is time for the world to act on climate change as it will play an increasing role in disaster losses, Torsten Jeworrek of reinsurance company Munich Re warned today. Munich Re reported today that the global insurance and reinsurance industry faced some $82 billion of natural disaster losses in 2020, read the full article →
Climate risk protection gaps need capital market (ILS) solutions
The physical climate risk protection gap, so the gulf between climate related losses covered by insurance, reinsurance or risk transfer and those going uncovered, is widening, but instruments such as insurance-linked securities (ILS), catastrophe bonds and other blended financing solutions can help to narrow this gap. In real estate the climate read the full article →
Climate change a systemic risk without global action: Munich Re’s Jeworrek
Global action to combat climate change is essential to avoid the exposure becoming systemic in nature, which might cause it to become less insurable, according to Munich Re's CEO of Reinsurance, Torsten Jeworrek. Speaking during a media briefing held as a virtual replacement for the Monte Carlo Rendez-Vous event, which was read the full article →
Undeniable climate change impact starting to get priced in: Hilti, Credit Suisse
Following the increased severity and frequency of wildfires, droughts and floods in recent times, the undeniable impact of climate change on water-related catastrophes is starting to get priced in and risk premiums are adjusting, according to Niklaus Hilti, Head of Credit Suisse’s Insurance-Linked Strategies division. In a recent interview, experienced insurance-linked read the full article →
Risk transfer, reinsurance key to address reality of climate change: Guy Carpenter
The reality of climate change needs to be addressed and addressed fast by countries, governments and public sector entities, and the risk transfer, reinsurance and insurance-linked securities (ILS) sectors are well-placed to assist, according to Guy Carpenter. The catastrophe bond is highlighted as a key risk transfer and resilience financing tool read the full article →
