Executive summary: Snow melt flooding is an imminent threat in the U.S., but there are steps insurance professionals can take to mitigate their clients’ risk, says Richard Coyle, U.S. commercial director at FloodFlash. Catastrophic flooding is a major problem in …
Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallholder farmers are …
Descartes Insurance, the risk-carrying insurer formed in 2022 by climate-risk managing general agent Descartes Underwriting, has launched the first parametric cyber insurance for corporate clients in France. Described as the first insurance of its kind offered anywhere in the world, …
NormanMax Insurance Holdings, the Miami, Florida-based parametric re/insurance group, has received “in principle” approval from Lloyd’s to launch a syndicate, which will be managed by Apollo Syndicate Management Ltd. NormanMax Syndicate 3939 aims to commence underwriting in April 2024, focusing …
Former U.S. Secretary of State Hillary Clinton called on Sunday for reform of the insurance sector, where companies are increasingly withdrawing assistance against climate shocks. Lower-income countries and workers in nations most affected by climate change are struggling to access …
Low-income countries are struggling to access insurance, catastrophe bonds and other hedging mechanisms that could help protect them from the economic fallout of climate change, industry sources told Reuters. Helping these countries, which face some of the biggest risks from …
Howden, the London-based insurance group, announced the creation of Howden Climate Parametrics, a global practice that brings together re/insurance, climate, and data expertise to focus parametric risk transfer solutions on meeting the escalating demand for climate derisking capabilities across industries, …
CelsiusPro AG, the Zurich-based parametric insurance managing general agent, announced the acquisition of Global Parametrics Holding Co. Ltd. CelsiusPro said the deal will strengthen its global capabilities to offer parametric risk transfer solutions to both private and public sector clients …
Health insurance. Dental insurance. Accidental death and dismemberment. Why not homeowners insurance as an employee benefit? That’s exactly what Darren Wood is thinking. Wood is the founder and chief product officer at Recoop Disaster Insurance, which is now in 42 …
Carlos José Báez experienced the full brunt of Hurricane Maria when it made landfall in Puerto Rico as a catastrophic storm in 2017. The auto paint shop owner, who lives in Aguas Buenas, Puerto Rico, saw his home badly damaged …
