Analysis – Page 13
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AnalysisNat cats cost global economy $190 billion in 2020
While COVID-19 was a stress test for society and the economy, it has an expiry date – climate change does not, warns Swiss Re chief economist
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AnalysisSuez: 300 ships on standby
The Suez Canal situation will unveil which organisations have a strong understanding of their supply chain risk, and which do not
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AnalysisOECD: Insurers need “skin in the game” on pandemics
Insurance sector needs to play more active role in future pandemic solutions, says OECD secretary-general Angel Gurría
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AnalysisRMS launches climate change models
Growing frequency of extreme weather catastrophes alongside regulatory ESG and climate reporting requirements is driving demand for analytics
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AnalysisFitch: Insurers are “green economy enablers”
The ability to channel investment into sustainable projects is viewed as a sizeable growth opportunity for the insurance sector
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AnalysisRenewables see 300% rise in extreme weather losses
Wildfire, floods, hailstorms and windstorms are damaging solar and wind projects with greater frequency and severity, finds GCube
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AnalysisCOVID/Brexit dominate UK business risks
Climate change ranked as the number 13 risk faced by UK firms, with just 11% identifying it and extreme weather as one of their top five concerns
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AnalysisAllianz Risk Consulting names global head
Thierry Portevin will head up the risk consulting team, which is made up of engineers from a wide range of technical and scientific disciplines
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AnalysisUS winter storm claims to exceed $10 billion
In Texas, claims could surpass Hurricane Harvey, with rolling power cuts hitting manufacturing and energy firms, according to AIR Worldwide
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AnalysisABI: Insurers took reputational hit on COVID
Speaking at the association’s virtual conference, director general Huw Evans said the industry had to ”learn the lessons” from the FCA test case
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AnalysisAirmic contributes to UK resilience debate
Country is vulnerable due to “the absence of risk assessment across sectors and organisations” and “diminishing influence on the global stage”
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AnalysisSpanish snowfall claims to reach €1.8 billion
Storm Filomena brought wintry conditions and cold temperatures not seen in Spain in two decades - Impact Forecasting
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AnalysisUK firms underinsured for flood risk
Nearly three quarters of businesses are aware of their flood risk, but less than half have comprehensive flood cover
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Analysis2020 nat cat tally hits $78 billion
Hurricane Laura caused an insured loss of $8 billion to 9 billion, the largest weather-related loss event - Willis Re
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AnalysisStorm Christoph claim settled within ten hours
FloodFlash uses parametric cover to provide pay-outs to policyholders, using IoT sensors to monitor flood levels
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AnalysisNat cat losses cost $268 billion in 2020
Just 36% of the losses were covered by insurance, creating a protection gap of 64%, according to Aon
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AnalysisBuilding resilience against winter storms
Ensure flood plans are up-to-date and any impact from COVID-19 (eg reduced staffing) is accounted for, urges FM Global
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AnalysisHurricane risk in 2050
Study assesses the likely impact of climate change on hurricane severity and storm surge over the next 30 years
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AnalysisWEF: Why investment in resilience pays off
“It is always cheaper to build a dam than to pay for the flood” - WEF Global Risks 2021
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AnalysisWEF: No vaccine for climate change
In 2020, the world saw the catastrophic effects of ignoring long-term risks such as pandemics - WEF Global Risks Report 2021
