New insurance solution for water risks launched

New insurance solution for water risks launched

New insurance solution for water risks launched

Global Parametrics (GP), a provider of parametric protection against climate risks in emerging markets, has structured two risk transfer solutions using a Water Balance Index (WBI), to enable partners to provide drought and excess rainfall protection for smallholder farmers in India and Tanzania. The WBI is a multi-scalar meteorological index using monthly cumulative rainfall and potential evapotranspiration to estimate departure from the climatological norm. The index uses 40 years of daily atmospheric reanalysis data supplied by the…

This is the time for action

This is the time for action

This is the time for action

This issue of Commercial Risk Asia is wholly based on a series of in-depth interviews carried out with leading members of the Pan-Asia Risk & Insurance Management Association (Parima) for our annual Risk Frontiers survey. The point of this survey is to provide risk and insurance managers across the world with a unique platform to express their views on key…

AXA XL makes appointments to new regional units

AXA XL makes appointments to new regional units

AXA XL makes appointments to new regional units

AXA XL Insurance has announced new appointments for its business divisions following the recent launch of its regional operating model, which came into effect on 1 October. New appointees to AXA XL’s Asia and Europe business unit division are: –Marine Charbonnier, global programmes and captives director –Mathieu Daubin, chief underwriting officer, marine –Yannick Daucourt, chief underwriting officer, specialty –Simona Fumagalli,…

MS&AD the latest Japanese insurer to face criticism for ‘weak’ coal policy

MS&AD the latest Japanese insurer to face criticism for ‘weak’ coal policy

MS&AD the latest Japanese insurer to face criticism for ‘weak’ coal policy

Tokyo-based MS&AD is the latest Japanese insurer to be attacked for its allegedly “weak” position on insuring coal by various NGOs, led by Insure Our Future, a US-based environmental, consumer protection and grassroots organisation that says its mission is to hold the insurance industry accountable for its role in the climate crisis. MS&AD came under fire after it became the…

FM Global urges Asia-Pacific leaders to retain focus on climate risks

FM Global urges Asia-Pacific leaders to retain focus on climate risks

FM Global urges Asia-Pacific leaders to retain focus on climate risks

Recovery from the Covid-19 pandemic and preparation for a potential second wave is clearly top of the agenda currently for business leaders across the Asia-Pacific region and worldwide. But leaders in the Asia-Pacific region in particular must continue to focus on the impact of climate change and invest in loss prevention, business continuity and risk management and mitigation measures to…

Australia’s bushfires cost industry A$1.9bn, says PERILS

Australia’s bushfires cost industry A$1.9bn, says PERILS

Australia’s bushfires cost industry A$1.9bn, says PERILS

Bushfires that broke out in Australia during the summer months at the end of 2019 and into 2020 will cost insurers A$1.86bn, according to estimates from PERILS, which has raised the loss from an earlier estimate of A$1.57bn. Australia’s ‘Black Summer’ bushfires caused 34 deaths and burned 18.6m hectares of land, peaking around the turn of the year. New South…

EQC renews New Zealand $6.2bn reinsurance programme

EQC renews New Zealand $6.2bn reinsurance programme

EQC renews New Zealand $6.2bn reinsurance programme

The New Zealand Earthquake Commission (EQC) has renewed its $6.2bn reinsurance programme for the forthcoming year and said that its investment in research and modelling after the Canterbury earthquakes of 2010 had clearly helped its case. “International reinsurers have again shown their ongoing confidence in New Zealand and the Earthquake Commission with this year’s agreement, which commenced on 1 June…

Climate change remains top priority for Asian CEOs despite pandemic

Climate change remains top priority for Asian CEOs despite pandemic

Climate change remains top priority for Asian CEOs despite pandemic

The Covid-19 pandemic has clearly dominated the attention of CEOs of all companies across Asia in recent times, but evidence gathered by insurer FM Global has found that climate change risk remains top of mind too. The survey found that 57% of Asia Pacific CEOs and CFOs reported that addressing climate risk is a high priority in their company. The…

Marsh JLT boosts renewable energy team

Marsh JLT boosts renewable energy team

Marsh JLT boosts renewable energy team

Marsh JLT Specialty has boosted its renewable energy team with the creation of new regional roles. Oliver Holme has been appointed to the newly created role of UK and US offshore wind leader. Mr Holme previously worked as lead risk and insurance specialist for a Danish utility. He will relocate to Boston from London early in 2021 and he will…

Australian hailstorms to cost property insurers $670m

Australian hailstorms to cost property insurers $670m

Australian hailstorms to cost property insurers $670m

PERILS, the Zurich-based catastrophe modelling firm, has estimated the insured property loss for the hailstorms that hit the Australian states of Victoria, New South Wales, Queensland and the Australian Capital Territory on 19-21 January at A$670m. The firm explained that the hailstorms were created by a large-scale weather pattern that affected the three states along Australia’s east coast. This created…

1 2 3 10