Novel cat bonds on the horizon: Brad Adderley, Appleby
On the back of a robust opening quarter, catastrophe bond issuance remained strong in the second-quarter of 2022, and with interest from new sponsors with novel transactions, growth could be on the horizon, according to Brad Adderley. “We have done a fair amount of cat bonds in Q2, and we have not had any transactions […]
Swiss ILS fund managers collaborating on ESG transparency
Artemis has learned that a group of Switzerland-based insurance-linked securities (ILS) investment fund managers have been collaborating to develop a data transparency proposal to help enhance environmental, social and governance (ESG) in the ILS market. After what we understand to be a few months of work, an initial ESG data request file template has now […]
Expanding hurricane insurance coverage for individuals in the Caribbean
Parametric policies designed for lower-income consumers could help bridge the disaster insurance gap. Globally, uninsured damages from disasters add up to over US$160bn per year, with 96% of this protection gap affecting emerging economies. Parametric disaster insurance can help by offering protection to many of those who are most vulnerable to natural hazards. The Yokahu insurance company […]
African insurers can help to reduce climate change impact in the country: Faber
According to the Africa Insurance Pulse, produced by Zurich-based Faber Consulting, Africa is particularly vulnerable to the effects of climate change due to low adaptive capacity and widespread poverty. Yet, by working with policymakers, the sector can help to mitigate and protect Africa from the consequences of climate change while creating new opportunities for the […]
Risky business: Three exam questions from the Risk Pool Summit
The Centre for Disaster Protection works on how the international system can better protect people when disasters strike. With years of experimentation and iteration behind them, risk pools are an essential piece of the answer, offering predictable pay-outs for pre-agreed risks like earthquakes and droughts. CCRIF SPC (formerly The Caribbean Catastrophe Risk Financing Facility) has […]
New financing mechanism for climate action becomes operational
Helsinki, 30 June 2022 – A new finance mechanism to strengthen weather and climate observations, improve early warnings to save lives, protect livelihoods and underpin climate adaptation for long-term resilience has opened its doors for business. The Systematic Observations Financing Facility (SOFF) is a key building block for a new initiative spearheaded by United Nations Secretary-General General António Guterres to […]
London workshop with Twelve Capital and African Risk Capacity
Climate change leads to a larger protection gap of which 96% is in the developing world* Twelve Capital held a workshop with high calibre market players to discuss how natural catastrophe risks can be transferred to financial markets for disaster relief in emerging markets. Against the backdrop of Impact Investing some highlights covered were: – […]
One Concern & WTW team to accelerate adoption of parametric insurance
One Concern, a resilience-as-a-service solutions provider with a focus on providing upfront information on potential financial impacts of climate related loss events, and broker plus advisor WTW, have teamed up with a goal to accelerate the adoption of parametric insurance solutions. As we’ve explained before, One Concern provides climate related analytics, but with a unique […]
Zambia’s ARC parametric drought insurance to payout US $5.3m
The African Risk Capacity (ARC) has paid out and already disbursed US $5.3 million to the Government of Zambia after the African nations parametric drought insurance coverage was triggered. A symbolic US $5.3 million cheque was presented to the Zambian Government by representatives of the African Risk Capacity Group and the African Development Bank, with […]
ILS gains attention as climate change felt around the world: HK IA’s Cheung
On announcing the completion of the second catastrophe bond issuance domiciled in Hong Kong, the Insurance Authority’s CEO Clement Cheung explained that insurance-linked securities (ILS) are a focus as they gain increasing attention. The Insurance Authority said that it welcomes the second issuance of insurance-linked securities (ILS) in Hong Kong. As we’ve been reporting for […]