Green cat bonds. That slinky phrase is one that Greg Lowe, global head of resilience and sustainability for Aon, would enjoy hearing uttered frequently in the near future. Lowe has been talking with an increasing number of people in the …
The World Bank Group issued its largest catastrophe bond, providing Mexico with financial protection of as much as $360 million against losses from tropical cyclones and earthquakes. Mexico is among the countries most vulnerable to natural disasters, the bank said …
Boston-based catastrophe risk modeling firm AIR Worldwide (AIR) announced it has expanded its Global Pandemic Model to include outbreaks of six additional diseases. The model now explicitly accounts for nine pathogens, including bacterial and viral diseases, in addition to previously …
The shoe may eventually be placed on the other foot for the U.S. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other countries. Now the U.S. may …
A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …
The insurance industry, the United Nations and the World Bank have formed a public-private partnership designed to help bridge the “protection gap” for developing nations, which struggle increasingly from the burden of uninsured economic losses after natural disasters. The Insurance …
The European Commission has agreed to contribute €14 million ($15.8 million) so the governments of Central American countries and the Dominican Republic can access to “low cost, high quality catastrophe risk insurance.” The agreement will be executed by the World …
Most investors need to make a significant behavioral shift and start factoring climate change into their portfolio risk management, a study on its impact on financial market returns found. Government officials are meeting in Germany this month to work on …
A report showing that global emissions were unchanged last year shows economic growth is possible amid the fight against climate change, a World Bank official said. Carbon-dioxide emissions were stable at 32.3 billion metric tons, even as the global economy …
Some future impacts of climate change, such as more extremes of heat and sea level rise, are unavoidable even if governments act fast to cut greenhouse gas emissions, the World Bank said. Past and predicted emissions from power plants, factories …
