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Jan 6, 2021 · We have some of the most sophisticated global specialty insurers and reinsurers. This insurance needs to lead the way in terms of how we tackle climate risk. Many of the largest European insurance groups actually are making fighting climate change a core part of their ESG strategies.
- Antonio Grimaldi
Published work “Net-zero underwriting in P&C and the growth...
- Mckinsey & Company
Insurance Technology: A dedicated team of insurance...
- Antonio Grimaldi
Oct 18, 2023 · Many Canadian insurers are not just disclosing, but also actively undertaking new efforts related to environmental, social, and governance (ESG) factors. However, embedding ESG within a company’s core purpose and strategy, and then translating that to their lines of business and enabling functions continues to be an area of untapped opportunity.
- sosood@deloitte.ca
- Partner, Consulting
Looking beyond compliance to focus on strategy and values will help create fair and well-designed policies. Article 6 mins. Leading the Biofuels Transition: Risk Strategies to Cut Through Complexity. Companies aiming to be a net-zero company may face many challenges during the biofuels transition.
Sep 13, 2023 · The report “Underwriting our planet: how insurers can help address the crises in climate and biodiversity” finds that many economic activities underwritten by insurance companies are fuelling climate change and nature loss rather than addressing this twin crisis. Although some insurance companies have started to integrate environmental considerations into their business strategies, actions ...
- Why Disaster Costs Are Rising
- Problems with Flood Insurance
- How Private Insurance Companies Are Responding to Climate Impacts
- Potential Repercussions of An Insurance Crisis
- What Should Insurance Companies Do About Climate Risks?
- Resources For Home Buyers
Natural disasters are becoming more expensive not only because climate change is intensifying them, but also because of human factors. One of them is that more and more people have been moving into areas with higher risks of climate impacts. Redfin, a real estate company, found that from 2016 to 2020, more people moved to high risk areas such as Fl...
Because standard homeowner insurance policies do not cover flood damage, homeowners who live in a FEMA-designated flood zone must buy separate flood insurance. While some Floridians purchased private flood insurance, 80 percent of flood insurance policies in the state were from the National Flood Insurance Program(NFIP) managed by FEMA. Congress cr...
As a result of the increase in the number and intensity of natural disasters, insurance companies are having to pay out more in claims. Hurricane Sandy was the deadliest windstorm to hit the Northeast U.S. in four decades, with insured losses of almost $26 billion. California wildfires in 2017 and 2018 resulted in insurers paying out $29 billion in...
If climate risks jeopardize the stability of insurance companies, what would be the impact on the real estate market, and consequently the economy? “That’s a big question that the entirety of the insurance industry, real estate sector, and financial and investment communities are trying to figure out,” said Burger. “What does climate risk mean for ...
A 2019 global survey found that 72 percent of insurance companies believe climate change will affect their business, but 80 percent of them have not taken significant steps to lessen climate risks. Moreover, insurance companies invest the money from the premiums they collect in the financial markets. They have $582 billion invested in fossil fuels ...
If you are in the market to buy a house, you need to consider a prospective property’s potential climate risks. These tools can be used to research specific addresses. RiskFactor.comprovides past, present, and future risk projections for floods, fire, and heat. Climate Checkgives a risk rating for storms, heat, fire, drought, and flood. Realtor.com...
2 days ago · Skyrocketing premiums, market withdrawals, and solvency concerns signal the urgent need to rethink the traditional insurance model. But with these challenges comes a pivotal opportunity. Insurers, armed with significant economic influence and unmatched risk expertise, are uniquely positioned to drive stronger climate policies and accelerate the transition to a decarbonized economy—both in ...
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Dec 13, 2023 · Doing so would help mitigate the effect on generic, unspecialized protection. Insurance companies can also encourage their policyholders to take initiative. For example, by urging their clients to install anti-flood doors or early warning systems, insurers can help their customers mitigate risk.
