Climate change
Analysis: Climate change - Getting to grips with global warming
Insurers have been forced into the front line of the fight to stop global warming and climate change and they are beginning to feel uncomfortable and exposed. While several major insurers have issued bold commitments to join the fight to halt global…
How climate change is impacting the risk profiles of financial institutions
A closer look at how board-level considerations of climate change must shift, and the potential consequences if they do not
This month: A long road ahead
It’s been a topsy-turvy month in Parliament and this week a bill was passed by MPs aiming to block a no-deal exit from the European Union. But as the UK continues to face uncertainties over Brexit, across the pond this month we saw scenes of destruction…
BoE governor Carney warns insurers over climate change
The Governor of the Bank of England has described climate as a “big, big issue” for general insurers and reinsurers.
Zurich's John Keppel on environmental sustainability
The sustainability agenda has become the latest ‘trend’ for many businesses, with expectations rising for all industries to showcase how they contribute to our environment and help save our planet writes John Keppel, chief operating officer at Zurich.
Analysis: Investing in a sustainable future
European governments and a wide range of international governmental and non-governmental organisations are looking to big institutional investors to back the development of a sustainable, greener infrastructure. Insurers and pensions funds are top of…
Blog: The Whaley Bridge experience - how well do insurers cope at times of crisis?
The Whaley Bridge incident has once again thrown the spotlight on insurers, their disaster plans and capacity issues. Alex Dalyac, founder and CEO, Tractable comments that while feet on the ground will never be totally replaced, the industry could be…
Blog: Home insurance - the rise of non-standard
The way we live continues to change. The nature of risk evolves. And so does the way we understand the UK home insurance market. Mark Eastham, CEO, Avantia argues non-standard is no longer exceptional – and that has significant implications both for…
This month: Reputation, climate change and technology
This month’s issue looked at reputational issues the sector is facing and what needs to be done to improve the industry's reputation going forward.
Chubb withdraws from coal underwriting over climate change fears
Chubb will phase out its coal insurance policies within the next three years, amid climate fears.
Insurers respond to flood claims from Lincolnshire
Insurers have begun responding to claims following the flooding in Lincolnshire.
Analysis: Managing ‘unthinkable risks’
The insurance industry has become progressively familiar with the idea of ‘unthinkable risks’ in recent years as unpredicted and unprecedented losses, caused by both natural catastrophes and man-made events, have continued to happen
Analysis: Are AI solutions being used to mitigate risks?
In the commercial space, artificial intelligence has the potential to enable an insurer to get all the information it needs to write a risk in a matter of hours and support customers’ risk management activity, but only if it is deployed appropriately
Environmental Agency works with insurers to review flood strategy
The Environmental Agency has launched an eight week consultation on a new long-term strategy to tackle flooding and coastal change.
Spotlight: Data - Ordering data in
Insurers continue to hang their success on the quality and use of data, with businesses continually reviewing how to gain a commercial advantage. Edward Murray looks at the benefits of using external data providers and why some peril risks have proven…
Insurers call for removal of obstacles to investing in green projects
The Association of British Insurers has called on the Prudential Regulation Authority to tackle obstacles to insurers investing in greener assets, such as renewable energy.
Blog: How can the wider insurance industry cope in times of surge?
Unpredictable climates mean the industry is facing an increase of surge events and pressure to handling them effectively and efficiently. Jonathan Davison, strategic development director of the British Damage Management Association, shares his view on…
Interview: David Rule, Prudential Regulation Authority
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
Aviva's Maurice Tulloch on leading the way in prevention
Climate change means extreme weather events are only going to become more frequent. Maurice Tulloch, CEO international insurance, explains how the insurance industry can lead the way in prevention.
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
Regulators consult on impact of climate change on insurers
The Prudential Regulation Authority and Financial Conduct Authority have both invited insurers to respond to consultation papers on the impact of climate change on their operations and investments.
Allianz named most sustainable insurer in Dow Jones Sustainability Index 2018
Allianz Group achieved the top position as sector leader among all rated insurance companies in the Dow Jones Sustainability Index
Axa's Sonia Wolsey-Cooper on doing serious social good
Large insurers have the expertise to prepare for the future, writes Sonia Wolsey-Cooper, chief corporate responsibility officer at Axa UK and Ireland, urging them to fund research and strike partnerships for the common good.
Analysis: Pricing climate risks
As climate change becomes tangible, insurers are feeling the heat. Their understanding of the risks could inform not just their underwriting but also their investment strategies.