risk transfer


Florida Citizens 17% growth in 2020 may drive reinsurance requirements

Florida’s Citizens Property Insurance Corporation is likely to see an increasing need for more risk transfer and reinsurance over the coming year, as it forecasts that its assumption of risk and policies will accelerate, with the state of the Florida insurance market set to drive its portfolio up by 17% read the full article →

Weather risks remain insurable (with adaptation actions), says Swiss Re

Insurance and reinsurance companies need to adapt to a "dynamic risk landscape" to incorporate socio-economic factors, climate change research and risk mitigation in their modelling, in order to keep weather risks insurable, Swiss Re warned today. In 2019, extreme weather events were once again the main driver of losses for the 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 →

Climate change could drive extreme weather losses 40% higher: Researchers

Economic losses from extreme weather related events could increase by 40% by 2040 due to the influence of climate change, according to researchers. Researchers from the Cambridge Centre for Risk Studies found that climate change could add some $100 billion of additional losses to extreme weather events globally, with an increase read the full article →

Hurricane claims could rise 50%, climate may make premiums unaffordable, warns QBE

Australia headquartered global insurance and reinsurance group QBE warned today that parts of the globe risk becoming uninsurable as climate change is forecast to significantly increase claims costs and could make premium rates soar. QBE announced results today that were hit by higher catastrophe and weather related claims across its property read the full article →

Cat bonds, risk pools, parametric triggers key to risk mitigation: Aon

Innovative insurance and reinsurance mechanisms such as catastrophe bonds, risk pooling facilities and parametric triggers are all key ways that risk mitigation can be improved in the world's most vulnerable areas, Aon said today. The insurance and reinsurance broker highlighted the continuing issue of the protection gap and the need for read the full article →

Reinsurance can mitigate negative effects of climate change: Swiss Re CEO

Reinsurance and its ability to transfer risk into a diversified pool of capital can play a vital role in helping the world to mitigate the negative effects of a changing climate and smooth volatility for carbon-free ventures, the CEO of Swiss Re has explained. Writing for the World Economic Forum (WEF) read the full article →

World Economic Forum eyes risk sharing with catastrophe bonds: Davos 2020

A World Economic Forum (WEF) initiative focused on responses to humanitarian risk is investigating areas where catastrophe bonds may prove valuable tools for risk sharing with private markets and investors, according to a United Nations representative. The World Economic Forum (WEF) is an international organisation focused on public-private cooperation. Its annual read the full article →

Insurance & ILS are shock absorbers for climate, but need adjusting to the risk: McKinsey

Insurance products, reinsurance and insurance-linked securities (ILS) are all examples of financial shock absorbers for climate change risks, but while it can encourage behavioural change through the sending of price signals, a new report from McKinsey highlights the reality that the sector business models may need to change. Leaders in business, read the full article →

Climate & environmental issues are top global risks for 2020: Marsh & Zurich

For the first time in the history of the annual World Economic Forum's Global Risks Report all of the top five global risks in terms of likelihood are related to climate change and environmental issues. The report highlights the growing global awareness of the threat that climate related risks pose to read the full article →