Reinsurance News
climate risk
Climate risk related insurance and reinsurance news and analysis.
The impacts of climate related risks are a key topic for the insurance and reinsurance industry, while providing risk transfer solutions to hedge against and protect from climate risk related losses is an important area of innovation for the market.
Rob Best to lead DUAL UK’s newly launched Climate Risk & Resilience team
11th March 2025
DUAL UK, part of the specialist underwriting arm of Howden Group, has announced the launch of its newly created Climate Risk & Resilience (CR&R) underwriting team. The CR&R team, under the leadership of Rob Best, will introduce a range of insurance products aimed at assisting businesses in navigating the decarbonization and ... Read the full article
ZestyAI partners with Colorado FAIR Plan to help expand insurance accessibility
7th March 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, has partnered with the Colorado FAIR Plan to expand insurance access for homeowners facing coverage challenges amid the climate crisis. The Colorado FAIR Plan will leverage ZestyAI's AI-driven risk models, Z-FIRE™, Z-HAIL™, and Z-WIND™, to provide property-specific risk assessments for wildfire, ... Read the full article
MSCI and Swiss Re partner to boost climate risk assessment for financial sector
21st February 2025
Research provider MSCI is partnering with Swiss Re Reinsurance Solutions to enhance the financial sector’s ability to assess, manage, and mitigate their physical climate risk. This collaboration will see the combination of MSCI’s GeoSpatial Asset Intelligence with Swiss Re’s proprietary natural catastrophe and climate risk data and insights. This will give financial ... Read the full article
Cyber attacks considered top business concern for 2025: Allianz
15th January 2025
Cyber incidents are considered the top risk for companies globally in 2025, according to the Allianz Risk Barometer. Business interruption is also a main concern for companies of all sizes, remaining in second place, with natural catastrophes ranking third. Geopolitical turmoil, impact of government and regulatory change, and fear of trade wars ... Read the full article
Aon collaborates with Fathom to enhance Climate Risk Monitor solution
19th December 2024
Aon has expanded its Climate Risk Monitor solution, launched in March this year, to include enhanced flood risk capability through its most recent collaboration with flood expert, Fathom. This partnership looks to assist clients to better understand the influence of a changing climate on flood perils worldwide. The Climate Risk Monitor allows ... Read the full article
Cytora & Moody’s RMS to help insurers overcome climate & natural disaster challenges
19th December 2024
Cytora, the digital risk processing platform has entered into a partnership with Moody's RMS, the global catastrophe risk modeling and solutions company, in a move that is set to help insurers weather climate and natural disaster risk. According to the announcement, Moody’s RMS Location Intelligence API, which provides catastrophe peril insights ... Read the full article
There is a big nat cat protection gap that the industry needs to address: Swiss Re CEO, Berger
18th December 2024
The financial impact of natural catastrophes remains a key topic across the insurance and reinsurance sector, with the past five years exceeding the USD 100-billion mark in terms of losses, but admittedly, there is a big protection gap that the industry needs to address, says Andreas Berger, Group Chief Executive ... Read the full article
Cytora partners with Pelmorex Corp to provide insurers deeper insights into climate risks
12th December 2024
Digital risk processing platform Cytora has partnered with international weather information and data management company Pelmorex Corp to provide commercial property underwriters with deeper insights into climate-related risks. Through its integration with Pelmorex Corp - which operates across Europe, North America, LATAM, India and Australia - commercial property insurance underwriters will ... Read the full article
Climate and natural disaster risks prompting 13% of US home hunters to move: Redfin
22nd November 2024
Nearly one in seven (13.7%) US home hunters say a concern for natural disasters or climate risks within their area is a reason they are likely to move in the next year, according to a new report from Redfin, the technology-powered real estate brokerage. A Redfin-commissioned survey which was conducted by ... Read the full article
Insurance industry lagging behind in establishing climate risk committees: Fathom
13th November 2024
A new research report commissioned by Fathom and conducted by IFI Global reveals that the insurance industry is falling behind in establishing dedicated climate risk committees, suggesting that firms would benefit significantly from adopting them to strengthen climate risk management. The findings are based on data from annual and ESG reports ... Read the full article
Rise in demand for cat bonds driven by climate-risk mitigation: Fitch
13th November 2024
In an effort to effectively manage risk, re/insurers are continuing the use of capital markets to access catastrophe bonds amid a firm market, driving up the issuance of insurance-linked securities (ILS), a trend that is expected to persist, Fitch has highlighted. This, according to analysts, also presents a unique opportunity ... Read the full article
Climate risk drives up property insurance prices, impacting commercial real estate: Report
28th October 2024
Reinsurance costs, persistent inflation, regulations, and frequent weather-related claims are driving up property insurance prices, affecting commercial real estate returns, valuations, and transactions, according to a Urban Land Institute (ULI) and Heitman report. According to research, rising insurance costs are squeezing property owners, leading to lower net operating incomes and, in ... Read the full article
African Development Bank approves $34.8m grants for Malawi & Zimbabwe’s climate resilience
14th October 2024
African Development Bank Group’s Board of Directors has approved $34.8 million, ($34,796,402.40) in grants to enhance resilience and adaptation to climate disaster risks for vulnerable communities in Malawi and Zimbabwe. Under the Bank Group’s Africa Disaster Risk Financing (ADRiFi) initiative, the Mitigating Fragility through the Africa Disaster Risk Financing Programme in ... Read the full article
We have to take the challenge to fight climate change very seriously, R+V Re’s CEO
8th October 2024
As the intensity and severity of natural catastrophes continues to increase worldwide, there is more that the re/insurance sector needs to do to show its value in the climate fight, and according to Christoph Lamby, CEO of R+V Re, the German reinsurer, there are certain points that don't come across ... Read the full article
Sasria considers expanding coverage to include natural disasters and climate risks
8th October 2024
The SA Special Risk Insurance Association (Sasria) is exploring the expansion of its coverage options to include climate, severe weather, as well as cyber risks. Sasria is a state-owned non-life insurer that provides special risk cover - including civil commotion, public disorder, strikes, riots and terrorism - to all individuals and ... Read the full article
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