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Drought declared in eight regions of England

The drought could seriously impact food supply and result in water rationing in impacted regions

United Kingdom Climate change

FM Global allocates $300m ‘resilience credit’ for climate change

The credit has the potential to help policyholder reduce total loss expectancies related to wind, flood and wildfire exposures caused by human-induced climate change

International Climate change

Climate change 'eroding primary and secondary perils distinction'

Perils including floods and wildfires are now ‘producing outsized losses’ and triggering reinsurance programmes, Reask's Hassam says

International Property

Losses from historic rains and flooding in central US to top $1bn: Aon

A ‘sizeable’ portion of the losses is likely to be uninsured as a result of low take-up of coverage under the National Flood Insurance Program, broker says

United States Aon

Competition, collaboration and the Commonwealth

The threat of climate change will require a collaborative approach both to deal with its effects and take measures to reduce carbon emissions, but insurers may need to work around anti-competition laws to do this

International Legal focus

Fidelis joins ClimateWise

Bermuda-based firm is latest company to join sustainability initiative and pledges to report annually on its response to climate change

Bermuda Climate change

Catastrophes cost insurers $38bn in H1

Above-average natural catastrophe losses were driven by a series of harsh European winter storms and severe flooding in Australia and South Africa

International Swiss Re

FRC and FCA find further improvements needed under new climate disclosure rules

FCA review of 170 companies finds instances where companies reported they had made disclosures consistent with the TCFD’s recommendations when it appears they had not

International United Kingdom

'Four challenges when quantifying the impacts of climate change'

Models are all about the resilience of the decision-making process. If the risk is changing, we must adapt to it. T

Viewpoint Climate change

Scor faces €200m Brazil drought loss

Brazil has suffered from its worst drought in more than 90 years, with soybean farmers in southern Brazil expected to losing 90% of their crops

Brazil Scor

WTW acquires AI firm to bolster climate risk analytics

Acquisition of fintech firm Butterwire will help the broker manage climate-related financial risk ‘at scale and speed’

International Willis Towers Watson

Insurers’ models not flexible enough to calculate climate risk, BoE warns

Insurers are failing to consider the risk of flooding and potential losses from perils including storm surge, BoE financial policy committee member Anil Kashyap says

United Kingdom Property
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