Climate change
Allianz’s MGA; Policy Expert’s capacity; Clear’s CCO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva calls for forward-looking climate risk modelling
Insurers are relying too heavily on historical risk data, contributing to a widening protection gap as climate-related losses become more frequent and severe, according to Aviva.
Flood Re halves premiums for low-income households
Flood Re will more than halve contents insurance premiums for some lower-income households as part of a major overhaul that ministers say will make flood insurance fairer, reward resilience and prepare the scheme for its planned closure in 2039.
Charity accuses Lloyd’s agents of ‘underperforming’ on climate change
Climate change progress has stalled significantly since 2024, with Lloyd’s managing agents performing worse across the board in ESG underwriting practices, according to a charity’s major climate change assessment.
Axa XL and Scor stress need for multi-peril climate change insurance
Axa XL and Scor have said multi-peril coverage, in comparison to parametric solutions, can increase investor confidence for successful climate change coverage.
Gallagher forecasts growth in parametric climate protection
Parametric insurance will play a growing role in closing climate protection gaps, according to Gallagher’s head of climate strategy, carbon insurance and parametric solutions, James Bosley.
Swiss Re climate activists met with ‘aggression’ at Gherkin
Student protesters who occupied Swiss Re’s foyer said they were met with ‘aggression’ as they demanded the insurer stop underwriting fossil fuel projects in the Coral Triangle.
Lloyd’s targeted with eco-protest mural
A giant mural was painted outside Lloyd’s of London this morning as activists demanded that insurers make the Coral Triangle a no-go zone.
Flood Re launches UK-wide tour to boost exposure and take-up
Flood Re has launched a UK-wide educational tour to improve take up and improve communication with households as 8 million properties are predicted to be at-risk of flooding by 2050.
Penny Black’s Social Diary: Markerstudy’s green fingers
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.
Insurers must take ‘vital’ action after climate change report
Insurers have said the industry must take “vital actions” as a government report says the UK should adopt maximum temperature rules among other changes.
Five key takeaways from the Global Risk Summit
Navigating the new geopolitical order, AI, changing climate risk, and increasingly sophisticated cyber-attacks were on the agenda at the inaugural Global Risk Summit in London.
Climate and Union activists protest at Biba conference
Activists from both Extinction Rebellion Manchester and Unite the Union have staged protests at the British Insurance Brokers' Association Conference in Manchester.
Tara Foley, Axa
Tara Foley’s leadership of Axa UK & Ireland is defined by a commitment to showing how general insurance can protect all sectors of society.
Jason Storah, Aviva
Jason Storah has been busy steering Aviva’s UK & Ireland General Insurance business through a period of significant change.
Shoib Khan, Prudential Regulation Authority
Shoib Khan, director of insurance supervision for the Prudential Regulation Authority, appears on Insurance Post’s Power List for the first time at a moment when his influence over the sector is particularly acute, as he leads a major stress test of the…
Intact calls for improved flood resilience products
A study has called for more sophisticated flood protection products for commercial properties, warning that millions of buildings are facing increased flood risk across the UK.
Home insurance market shrinks as product strategies evolve
Although home insurance provider numbers have declined significantly since 2016, Angela Pilley, insight consultant for general insurance at Defaqto, reveals insurers are maintaining consumer choice through expanded product options.
Swiss Re CEO warns firms must rethink cover for systemic shocks
Nina Arquint, UK CEO of Swiss Re Corporate Solutions, warns traditional, product-led insurance buying is no longer fit for purpose, as climate shocks and geopolitical tensions create interconnected, systemic risks.
Insurers respond after criticism surrounding ties to fossil fuel and military firms
After a report from Boycott Bloody Insurance has criticised providers based on their financial ties to fossil fuel and weapons companies, Axa has responded.
Government’s deregulation would worsen home insurance outlook
Louise Clark, general insurance policy manager at the Association of British Insurers, has urged the government to reconsider proposals to further relax building regulations following the close of a recent consultation.
Dark kitchens, 50mm hailstones and urban wildfire join risk list
New risks posed by societal, environmental and climate change, including dark kitchens, urban wild fires and 50mm hail stones, were highlighted during a joint meeting of the Post Claims and Underwriting Clubs last week in London.
Britain’s future subsidence hotspots revealed
British Geological Survey and Ordnance Survey data analysis, produced exclusively for Insurance Post, shows where climate change is set to intensify subsidence hazard exposure and pose growing challenges for property insurers over the coming decades.
Why insurers and brokers must reinvent themselves for the green transition
View from the Top: Ian Picton, head of energy transition at Gallagher, says when it comes to the green transition, forward-thinking insurers remain scarce.