Analysis – Page 5
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German floods to see sizable protection gap
There are renewed calls for a state-backed natural catastrophe scheme or introduction of compulsory flood cover
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European floods hit over 70,000 properties
Total insured losses could reach €5 billion as Airmic CEO Graham says even climate scientists “were shocked”
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Catastrophic floods strike Central Europe
Several dams burst across Germany after extreme flooding, leaving at least 180 dead and hundreds more missing
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Europe counts cost of severe weather
Insurers face up to $4.5 billion in claims after the costliest severe storm period on record in Europe - Aon
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UK ill-prepared for climate change - CCC
Report emphasises need for risk mitigation as nearly 60% of risks and opportunities are given the highest urgency score
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Denmark, Norway most resilient nations - FM Global
Climate risk is an increasingly important factor for companies and leaders making strategic decisions
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Environmental risks, climate change threatens megacities
Firms must align climate risk assessments with the recommendations of the TCFD to build greater resilience - Verisk Maplecroft
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Hail drives US cat losses in April
Western and central regions of Europe experienced a significant cold spell within the first week of April, with temperatures well below freezing
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FM Global releases earthquake map
The Netherlands, France, Switzerland, Italy have all seen above-average movement to higher risk zones
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Sedgwick in flood resilience push
A combination of recoverable and resistant measures for properties could avoid the high cost for future floods
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OECD: 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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RMS 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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COVID/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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ABI: 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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Spanish 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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UK 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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Storm 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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Building 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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WEF: 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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Supply chains: Building climate risk resilience
Supply chains are particularly vulnerable to climate risk, as many global production systems are focused on ensuring efficiency over resiliency