Climate Change
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EU Parliament adopts directive to stop environmental and human abuse
The European Parliament has adopted its position for negotiations with member states on rules to integrate human rights and environmental…
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Lloyd’s, QBE and Mapfre join exodus from NZIA
Lloyd’s, QBE and Mapfre have become the latest members of the UN-convened Net Zero Insurance Alliance (NZIA) to leave, with…
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UN backs NZIA collaboration but 11 members have now quit
The UN said “there is a fundamental and urgent need for collaboration” in the insurance and reinsurance industry to tackle…
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Increased climate-related claims activity in UK and Europe expected
The UK and Europe are expected to see increased activity in certain new types of climate-related claims, according to Lydia…
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Allianz, Scor and chair AXA exit NZIA
Three more European insurers, AXA, Allianz and Scor, left the Net Zero Insurance Alliance (NZIA) yesterday after weeks of speculation…
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Spanish risk managers welcome positive aspects of ESG
Spanish risk managers say that they are getting increasingly involved with the adoption of ESG principles by their companies, and…
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Climate litigation grows into financial risk for major carbon emitters, finds Grantham study
Climate litigation shaves an average 1% from the value of listed US and European corporations, according to Grantham Research Institute,…
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Swiss Re latest to quit Net-Zero Insurance Alliance
Swiss Re is the latest high-profile member to leave the UN’s Net-Zero Insurance Alliance (NZIA) in the face of growing…
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Aon launches Singapore climate innovation hub
Aon has launched a new climate innovation hub in Singapore, supported by the Singapore Economic Development Board (EDB). Aon said…
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NZIA weakened by exits but insurance industry will push on with net zero underwriting
The exit of three leading (re)insurers from the industry’s net zero standards body does not necessarily signal a sector-wide pull-back…
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Insurance solutions to help de-risk climate change impacts
Insurers can help corporates to de-risk impacts from climate change in a number of different ways, according to Swiss Re…
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Moody’s warns of P&C profit hit from proposed drought reform in France
An increase in drought losses in France – forecast to rise by three times over the next 30 years –…
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FM Global launches tool to help clients manage climate change risk to 2050
Commercial property insurer FM Global has launched a data-driven tool for clients to identify and mitigate their climate risks between…
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Talanx sets out new net-zero commitments
The Talanx Group is to introduce additional restrictions on insurance for new oil and gas projects with effect from 1 July 2023,…
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Munich Re Specialty Group launches ‘Green Solutions’
Munich Re Specialty Group has launched Green Solutions, a portfolio of insurance products and services aimed at the renewables market.…
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US Supreme Court decision on Big Oil could fuel flood of claims
A recent decision by the US Supreme Court has dealt a “heavy blow” to Big Oil defendants seeking to move…
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IAIS highlights role of supervisors in addressing nat cat protection gaps
Insurance supervisors can play an essential role in supporting disaster risk assessment and risk management practices and addressing protection gaps,…
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NZIA withdrawals complicate net-zero underwriting decisions, says Marsh exec
Risk managers need to be aware how their organisations’ impact on the environment and net-zero transition plans are viewed by…
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Energy transition dominates businesses’ short-term concerns
Short-term concerns about the energy transition are deflecting the focus away from climate change, according to a new report on…
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Debate hots up over sustainability and due diligence directive
The European Parliament (EP) will vote in the first week of May on the increasingly controversial Corporate Sustainability and Due…