
Sustainability

Climate scientist warns insurers of ‘compound changes’ in extreme events
The ETH Zürich professor tells delegates at Swiss Re webinar that a ‘best-case scenario’ would see an extreme temperature event occur four times every decade

Insurance alliance target ‘falls far short’ of 1.5°C climate goal
Net-Zero Insurance Alliance target setting protocol fails to offer 'credible alternatives' to fossil fuel exclusion policies, global campaign group says

Viewpoint: Parametrics can close coverage gaps and pave the way for a climate-resilient industry
As well as their potential to help address the protection gap in areas prone to natural catastrophes, parametric solutions can also be tailored to cover other hard-to-insure losses

Chubb announces new underwriting standards for oil and gas extraction
Insurance giant says coverage will be contingent on client adoption of plans to reduce methane emissions and confirms it will not underwrite oil and gas extraction projects in government-protected conservation areas

Swiss Re pegs 2022 cat losses at $125bn
Natural disasters resulted in global economic losses of $275bn last year, revealing a picture of growing property exposure, according to Swiss Re’s latest sigma report

Catastrophe losses of $100bn a year are the 'new normal'
Bermudian re/insurer Aspen’s chief underwriting officer, Christian Dunleavy, discusses climate change, the trend towards annual contracts to help manage exposures and the forthcoming reinsurance renewals

Howden names Cox head of energy transition
International broker hires former KPMG partner to support the business in advising clients on de-risking the financing of energy transition projects

Pool Re should be replicated for other forms of systemic risk: Catlin
Speaking to Insurance Day, the executive chair of Convex calls for the creation of cyber, pandemic and climate risk versions of the UK government-backed terrorism reinsurer

Bank of England warns insurers on climate risk capital
There is ‘uncertainty’ as to whether insurers hold sufficient capital against future climate-related losses, UK regulator says, as it seeks to address ‘capability gaps’ to improve the identification, measurement and management of climate risks

ID Comment: The legacy market could help facilitate the transition to net zero
The legacy market could enjoy its most important role yet, as an engine to push re/insurers to net zero

Hiscox plans ESG sub-syndicate launch
London market re/insurer says it sees ‘significant long-term growth opportunity’ in ESG as businesses invest in transition and green technology

IDF opens talks with new G7 presidency on climate risk and resilience
Insurance industry-led public/private partnership aims to increase the number of companies engaged in its risk modelling working group
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