September 28, 2021
The United Nations Development Programme has launched an initiative to help governments and the private sector in developing countries provide insurance for crises such as pandemics and natural catastrophes, it said on Monday. Disaster recovery costs the world’s 77 poorest …
September 23, 2020
The Bank of England has encouraged the government to work with UK insurers in preparation for future major shocks, rather than leave swathes of the economy exposed to catastrophic losses. The danger of a “protection gap” is emerging as firms …
December 11, 2019
Hannover Re and a parametrics company along with several German economic development agencies have created a natural disaster fund targeting investments in risk-transfer instruments relating to natural catastrophes and climate risks in developing markets. The fund — the Natural Disaster …
October 30, 2019
A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from Lloyd’s of London. These losses could occur …
March 8, 2019
Emerging markets will remain the growth engine of the global economy and insurance industry over the next decade, reflecting a continuing shift of economic power from west to east, according to Swiss Re Institute’s latest sigma report. Discussing the macro-economic …
February 19, 2019
JBA Risk Management has released its Sri Lanka Flood Model onto Simplitium’s ModEx platform. The initiative is specifically aimed at broadening accessibility to the Sri Lanka model for both the insurance and wider disaster risk reduction (DRR) community. The announcement …
February 4, 2019
An aging population and struggling state finances could turn into an unlikely boon for Italy’s banks, which have turned to a growing market for insurance to brighten their prospects. Intesa SanPaolo has marketed the move loud and clear since June …
January 29, 2019
A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed. Insurance claims after such an attack would range …
January 24, 2019
The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market has been blamed on the …
November 26, 2018
Households and businesses face a $500 billion global property and mortality protection gap, according to Swiss Re’s latest sigma study. Swiss Re’s report said that the figure illustrates increasing risk vulnerabilities emerging around the world but also presents an opportunity …