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Ecuador contracts first parametric insurance for 10k climate-vulnerable farmers, with Germany, UNDP, ISF and IDF support
The two parametric products — for extreme rainfall and drought-risk...
AIA Australia deploys SCOR’s VClaims
Tracey Crowe, General Manager for Claims and Underwriting at AIA...
Meta fined €798 million by EU over abusing classified ads dominance
“Meta tied its online classified ads service Facebook Marketplace to its personal social network Facebook and imposed unfair trading conditions on other online classified ads service providers,” EU antitrust chief, Margrethe Vestager, said. “It did so to benefit its...
Cyber Insurance: Largest potential lies in the SME opportunity, says Swiss Re
Dani Tobler.Head Cyber Reinsurance at Swiss Re "North America dominates with 70% premium share followed by Europe (19%) and APAC (8%) according to Swiss Re data. This not only illustrates the varying cyber market maturity levels around the globe but also underpins the...
End the secrecy: Insurers call on the EU to regulate private Third-Party Litigation Funding
Currently, the practice whereby private investors who are not party to the legal dispute, finance legal proceedings in exchange for a share of any financial award, is not properly regulated at European level Brussels: Insurance Europe, together with ten other...
DFC provides $50 million in new political risk insurance to expand War Insurance for Ukraine business
The facility will create a portfolio of war risk insurance policies for companies operating in Ukraine, support ARX in expanding its war risk insurance offering in Ukraine, and unlock more than $200 million in new coverage for static assets in Ukraine WARSAW: The U.S....
Lloyd’s revamps its data, operations and change departments, opts for outsourcing
Lloyd’s oversees a market of nearly 50,000 underwriters and brokers in London. It is in the process of upgrading its technology, moving away from being a totally face-to-face market, where brokers and underwriters meet on the trading floor of its tower in the City of...
M&A Insurance claim costs rise despite drop in number of claims, Tighter underwriting terms expected
GTS’ Americas region saw the smallest decline in R&W notification count in 2023 and was the only region to register an increase in notifications in Q1 2024. The Europe, Middle East and Africa region saw a notable drop in R&W notifications in 2023, but it was...
Tokio Marine Group partners with Resilient Cities Network to accelerate investments in urban resilience
The new partnership will see Tokio Marine Group companies provide expertise and support to the Taskforce with a focus on developing commercially viable finance and insurance solutions for project portfolios that enhance climate resilience in more than 100 cities. At...
COP29 climate talks urged to find $1 trillion a year for poorer countries
A previous goal of $100 billion per year, which expires in 2025, was met two years late in 2022, the OECD said earlier this year, although much of it was in the form of loans rather than grants, something recipient countries say needs to change. Setting the tone at...
10 most climate-vulnerable countries got less than $1 year climate finance: Report
The data also shows the 10 countries most affected by climate change between 2000 and 2019 received just $23bn, less than two per cent of all climate finance, despite accounting for nine per cent of the world’s population. The 750 million people now living in these...
World already on cusp of 1.5 degree celsius temp rise, finds new research
Every extra increment of heat risks worsening climate impacts like powerful storms and drought. This year is expected to be the hottest year on record, and the EU’s Copernicus Climate Change Service predicts it will also be the first year ever to breach 1.5C of...