The parametric product, underwritten by Swiss Re and provided locally by ICICI Lombard, was triggered by 40°C heatwaves in May, paying out to 46,242 low-income women in India.
NFRA issued new guidelines to promote the development of inclusive insurance in China, focusing on broad coverage, affordability, fairness, and sustainability.
In the past five years, nearly 54% of losses from declared insurance events were due to floods, representing the disproportional nature of the 4.4% of properties at high risk.
Insurance Council of Australia's Andrew Hall delivered an impassioned speech on the country's protection gap — urging short-term tax reform alongside other medium and long-term recommendations.
