Resilience

COP29: A round-up of the first week's discussions

As COP29 prepares for its second week in Baku, Azerbaijan, Sustainable Insurer reflects on discussions so far and what more needs to be done to elevate the role of (re)insurance in global dialogue.

ARC, WFP and AUDA-NEPAD launch disaster risk management platform at COP29

The African Risk Capacity, UN World Food Programme and African Union Development Agency launched the Africa Disaster Risk Management and Recovery Platform at the COP29 climate conference on Friday 15 November.

Tokio Marine appointed underwriting partner for urban resilience finance taskforce

Tokio Marine Group has been named as the inaugural underwriting partner for the new resilience finance taskforce unveiled at the U20 Summit in Rio de Janeiro.

Seadrif aims to close public asset insurance gap across Southeast Asia

Seadrif Insurance Company’s recently appointed executive director has vowed not to compete with the private market as the disaster risk pooling initiative seeks to expand its membership across the ASEAN+3 region.

Parametrics “part of the jigsaw” of building financial resilience

Parametric insurance is an increasingly useful tool to help developing countries manage natural disaster risk, according to a panel of industry leaders at the inaugural Parametric Insurer conference in London.

Insurance Europe issues EU recommendations to strengthen cyber market

Insurance Europe, the European reinsurance federation, has published a number of policy recommendations to the European Union on how it can support the role insurance plays in strengthening cyber resilience.

FM allocates $400mn to third credit for climate resilience investment

Commercial property insurer FM has unveiled a third resilience credit, bringing total allocation to more than $1bn since the programme’s inception in 2022.

Lloyd's pilots disaster risk financing vehicle in Pacific with UN agency and Aon

Lloyd’s has unveiled a new vehicle in partnership with the UN Capital Development Fund and Aon to deliver disaster risk financing to small island developing states in the Pacific, with plans to expand the parametric programme throughout the region and in the Caribbean.

IAIS names climate, innovation and resilience as priorities in 2025-29 strategic plan

The International Association of Insurance Supervisors has highlighted climate change, digital innovation and building resilience as key pillars of its latest strategic plan, which will run to 2029.

Howden urges insurers to drive “step change” in nature and biodiversity protection

Global food systems and the carbon markets present the most lucrative opportunities for the insurance sector to drive a “step change” in private capital flows for nature, a new report by Howden has said.

Axa Climate renews parametric marine restoration policies in Mexico and the Philippines

Axa Climate has continued to announce several renewals among its suite of nature-based insurance projects for mangrove restoration and marine ecosystem protection.

Microinsurance Network looks to scale up inclusive insurance capacity across Africa

The Microinsurance Network has penned a strategic partnership with the African Insurance Organisation to scale up inclusive insurance across the continent through the creation of a microinsurance and agriculture insurance pool.

Axa Climate warns of sovereign risk mispricing due to nature and biodiversity loss

Axa Climate, the sustainable insurance and consulting arm of the French insurance giant, has warned of potential increased sovereign risk arising from nature degradation and biodiversity loss.

The climate crisis is getting worse: here’s how insurance is helping

Pierre du Rostu, CEO of Axa’s digital commercial platform, on the role insurers can play in addressing climate change.

Aon-brokered IFRC policy triggered for first time after Yagi tips payouts over threshold

Typhoon Yagi has caused the International Federation of Red Cross and Red Crescent Societies’ Disaster Response Emergency Fund insurance policy to be triggered for the first time.

Axa Climate continues as Mesoamerican Reef Fund capacity provider in fourth annual placement

Axa Climate has been renewed as insurance capacity provider for the fourth annual placement of the Mesoamerican Reef Fund’s insurance programme.

African Risk Capacity’s Diong to lead loss and damage fund

Ibrahima Cheikh Diong, former director general of parametric risk pool African Risk Capacity, has been selected as the first executive director of the Fund for Responding to Loss and Damage.

Industry-backed Humanity Insured unveils three climate resilience grants

New industry-backed non-profit Humanity Insured has unveiled its panel of seed funding carrier partners – Allianz, Hiscox, Fidelis Partnership, Tokio Marine Kiln and Beazley – and announced its first three grant approvals.

Sustainable Insurer: Five key trends in 2024…

The Insurer’s sustainability editor Rebecca Delaney highlights five key trends to emerge this year…

Beryl-battered Grenada becomes first to use government bond hurricane clause

August 19 (Reuters) by Marc Jones – Grenada has become the first country in the world to use a so-called hurricane clause in a government bond – a special feature that allows authorities to postpone debt payments in the wake of a major natural disaster.

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