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Sensible Weather secures strategic investment from Amex Ventures to bolster climate finance platform

25th September 2023

Sensible Weather, a climate finance platform dedicated to empowering individuals to confidently engage with the world around them, has recently announced the closure of a strategic investment from Amex Ventures. This funding round also witnessed participation from Sensible's seed and series A lead investors, Wonder Ventures and Infinity Ventures, as well ... Read the full article

Fighting climate change has become an ever greater challenge: Allianz CEO

22nd September 2023

"The long era of robust economic growth, low inflation, and geopolitical stability is over, and it's replaced by uncertainty, volatility, and war. Suddenly, fighting climate change has become an ever greater challenge," suggests Allianz CEO Oliver Bäte. Bäte's comments stem from his speech at a summit of leaders from 34 governments ... Read the full article

Rising climate risk calls for industry and government collaboration: Moody’s

21st September 2023

In a recent report, Moody's has underscored the increasing physical climate risk and its implications for the insurance and reinsurance industries. The report highlights that the rising frequency and severity of destructive weather events are driving up underwriting risk, adding a layer of complexity to risk management strategies. One of the key ... Read the full article

Climate Risk Partners merges Into Climate Commodities

18th September 2023

Climate Risk Partners (CRP), a climate risk strategy start-up, has announced its integration into Climate Commodities (CC), a climate economy-focused platform with operating companies in physical trading, mineral processing and refining, transportation and logistics, renewable power, and financial services. According to the announcement, CRP will now rebrand as Climate Commodities Risk ... Read the full article

Businesses navigate challenges on the road to net-zero in the face of climate change risks: Zurich

14th September 2023

As the world grapples with the urgent need to combat climate change and achieve the goals set by the Paris Agreement, a new report by Zurich Insurance Group and global insights agency Horizon Group sheds light on the progress and challenges faced by businesses in their journey towards net-zero emissions. The ... Read the full article

African Development Bank launches Africa Climate Risk Insurance Facility for Adaptation

14th September 2023

The African Development Bank has unveiled a groundbreaking initiative, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA), aimed at fortifying African countries against catastrophic weather-related events. This transformative facility, hosted by the Bank, expands upon the Africa Disaster Risk Insurance Program by developing insurance solutions to empower African nations, particularly ... Read the full article

Impacts of climate change continuing to be felt around the world: PwC’s Jim Bichard

13th September 2023

With climate change topping the list once again for PwC's “Reinsurance Banana Skins" report, "it does not seem surprising" due to it being so dominant for all the major events that the industry has seen over the last 12 months, states Jim Bichard, Partner and Read the full article

Zurich and KPMG collaborate to offer comprehensive climate change advisory services

13th September 2023

Zurich Resilience Solutions, the commercial risk advisory and services unit of Zurich Insurance Group, has joined forces with KPMG Switzerland, a prominent professional services firm, to provide cutting-edge advisory services addressing the multifaceted challenges posed by climate change. Initially available in Switzerland, this strategic collaboration will soon extend its reach to ... Read the full article

ARC sets new record with $60m payout in 2022, pioneering climate resilience in Africa

12th September 2023

African Risk Capacity Limited (ARC Ltd), Africa's pioneering sovereign parametric development insurer, has announced a groundbreaking achievement with a record total payout of US$60 million in 2022. This milestone marks the largest payout since the company's establishment in 2014, underscoring the invaluable impact of its work in protecting African nations from ... Read the full article

Insurance industry grapples with rising cyber crime threat, climate change concerns: PwC

11th September 2023

In the "Insurance Banana Skins 2023" report, a joint effort by PwC and CSFI, the global insurance industry's primary concerns have been revealed, with mounting fears over cyber crime and escalating worries regarding climate change. The insurance industry faces its foremost challenge in the form of cyber crime. This threat encompasses ... Read the full article

FEMA designates community disaster resilience zones to bolster climate resilience

8th September 2023

In a groundbreaking move this week, the Federal Emergency Management Agency (FEMA) unveiled the designation of Community Disaster Resilience Zones (CDRZ), a strategic initiative set to catalyse a transformative shift in resilience funding. These zones are aimed at addressing the long-neglected and underserved communities that face the most significant risks from ... Read the full article

Dozen insurtechs to join Lloyd’s Lab new Asia Pacific climate, cyber and sustainability cohort

7th September 2023

Re/insurance marketplace Lloyd’s has announced the 12 insurtech firms set to join the 11th cohort of its innovation hub, the Lloyd’s Lab, which will focus on climate, cyber and sustainability in Asia Pacific. The new theme introduced this year will focus on developing solutions to some of the biggest risks faced ... Read the full article

Innovation key for re/insurers as climate trends threaten to widen protection gap: AM Best

24th August 2023

Global ratings agency AM Best has underscored the importance of innovation amid a widening protection gap (disparity between economic and insured losses post-event) driven by climate trends and emerging risks. 2022 was another year of above-average catastrophe losses for re/insurers, and recent analysis has suggested that annual losses will again exceed ... Read the full article

Demex raises $5m to bring retained climate risk reinsurance solution to the market

15th August 2023

The Demex Group, a technology-enabled managing general agent (MGA), has raised $5 million from a syndicate of existing and new investors led by Blue Bear Capital, to bring its breakthrough Retained Climate Risk Reinsurance (RCR Re) solution to the market. Blue Bear Capital is a venture and growth equity firm that ... Read the full article

Dorothée Prunier named Head of Product Engagement and Services, Chubb Climate+

8th August 2023

Property and casualty insurer Chubb has announced the appointment of Dorothée Prunier as Head of Product Engagement and Services for the international operations of Chubb Climate+, effective immediately. Prunier will remain based in Paris and will continue to report to Mark Homan, Division President, International Property and Casualty for Overseas General ... Read the full article