Insurance ESG

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Insurance ESG - September 2021
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Insurance ESG - September 2021

Newsletter 1. Great to get this started.

Paolo Cuomo
Sep 11, 2021
1
Share this post
Insurance ESG - September 2021
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The aim of our newsletter is to give you easy access to articles and resources to support insurers’ and brokers’ sustainability journeys. While all aspects of ESG are critical and are truly intertwined our focus is primarily on the climate agenda and ensuring support for building a more sustainable world.

It’s great to have you with us.

Paolo & Brandon


Climate risks to add $183bn to property insurance costs by 2040, Swiss Re predicts

Mike Daly, InsurTech World, 7 September 2021

Climate risks are expected to add as much as $183bn to annual premiums for property insurance by 2040, as the growing frequency and severity of extreme weather prompts insurers to raise prices. Swiss Re Institute, the reinsurance group’s research unit, predicted on Monday that climate-related risks would account for just over a fifth of the overall rise in property premiums over the next two decades.

Read more…


What smart people get wrong about climate change extremes

Kate Mackenzie, Bloomberg / fin24, 11 September 2021

But in practice the unknowns are still being overlooked. New scenarios produced for the central banks’ climate network in June, for example, only consider the effects of increases in temperature, excluding other factors such as extreme weather and sea-level rise.

Pitman, director of a multi-university centre on climate extremes in Australia who has also contributed to previous IPCC reports, points to financial stress tests and macroeconomic modelling as one example of where this kind of thinking goes wrong.

Read more…


What the IPCC report means for insurers: The Oxbow Partners view

Fenna Agnew, Oxbow Partners, 19 August 2021

The insurance industry is uniquely positioned to support these efforts. Global warming is a particularly pertinent issue for the industry as it threatens insurers on the underwriting side through more extreme weather events, and on the asset side through the financial uncertainty of the transition to a decarbonised economy. However, insurers can leverage their investment and underwriting processes to drive forward efforts to reduce emissions.

Read more…


U.S. Treasury climate official seeks insurance changes for extreme weather

Andrea Shalal and David Lawder, Reuters, 10 September 2021

The Federal Insurance Office will accept input for 75 days and then come up with recommendations for better pricing the risks that climate change posed to insured properties and activities, Morton said.

"The question is, how do we ... better understand and begin to price the risk inherent in the underlying activities," he said.

In its Aug. 31 request for information, it cited a dramatic increase in the frequency and severity of climate-related disasters, and said they had resulted in growing economic losses and financial risk.

Read more…


UK flood modeller secures backing from leading risk assessment firm

Intelligent Insurer, 9 September 2021

UK flood modeller Fathom has secured backing from a leading global risk assessment firm to expand its presence in global markets across multiple sectors including re/insurance, risk management, financial services, engineering and disaster response.

Read more (subscription required)…

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