Insured loss from 2022 Australia floods rises to $4.3 billion: ICA
The Insurance Council of Australia (ICA) has reported a 28% rise in the cost of the severe flooding across Southeast Queensland and Northern New South Wales earlier this year, making it the country’s fourth costliest natural disaster event. As of Tuesday May 31st, 2022, insurance and reinsurance industry losses from the floods are estimated at […]
SCOR’s new Atlas Capital Re cat bond “integrates ESG considerations”
France headquartered global reinsurance firm SCOR said this morning that its successfully issued $240 million Atlas Capital Reinsurance 2022 DAC (Series 2022-1) catastrophe bond has environmental, social and governance (ESG) considerations integrated into it. As we’ve been reporting, SCOR came to market with its latest catastrophe bond with a $150 million target earlier in May. With […]
Adding the ‘S’ to ESG: why insurers can make a difference
ESG (environmental, social, corporate governance) factors present unique challenges for participants in the insurance sector. Unexpected claims, regulatory requirements and investor demands are just three challenges it faces. But the industry is uniquely positioned to support the world’s transition to a sustainable, low-carbon economy–—while also developing increasingly sophisticated risk transfer tools to help manage this […]
IRDAI allows insurance companies to introduce products without prior approval
The Insurance Regulatory and Development Authority of India (IRDAI) has allowed general insurance companies to introduce products without seeking prior approval from the regulator, in what is the first major reform by the new IRDA chairman. The IRDAI said it has extended the ‘use and file’ procedure for all the Health Insurance products and almost […]
