ADB considering establishment of risk facility in Hong Kong, Kazakhstan, Singapore, or Labuan, which aims to manage nat cat impacts for 11 CAREC member nations.
Ahead of COP28, the industry shares some thought on what role insurance can play in disaster relief funding.
Pacific Small Island Developing States could face financial losses from natural disasters surpassing 100% of GDP by mid-century — making a strong case for innovative insurance solutions.
Tower partners with CelsiusPro to enhance the technological infrastructure supporting their Cyclone Response Cover, a parametric insurance offering.
Supported by funding from India, the multi-agency project seeks to double the parametric coverage of the initiative first launched in 2021.
The products are aimed primarily at agricultural risk and will be launched in 2024,
Howden Climate Parametrics will focus on climate-related risks, with the 30-person team led by Rowan Douglas and Philipp Kusche.
Global Data expects nearly 11% CAGR from 2023 to 2027, but loss ratio is still expected to rise in the coming years.
Demand for parametric insurance is increasing, but challenges remain.
The cover will help protect Sri Lanka's largest seafood company from four key weather risks: earthquakes, typhoons, excess rainfall, and heat stress.