risk transfer

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% over the course of this […]

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.

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.

Economic losses from extreme weather related events could increase by 40% by 2040 due to the influence of climate change, according to researchers.

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.

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.

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.

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.

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.

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.