Chris Cundy

EIOPA and ECB endorse pan-EU reinsurance pool to address natcat protection gap

The EU could establish a public-private reinsurance scheme to help increase coverage for natural catastrophe risk, according to the European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB).

Swiss regulator finalises guidance on climate and nature-related financial risks

EIOPA proposes capital charges on fossil fuel assets

Fossil fuel-related stocks and bonds pose higher market risks to insurers that could be mitigated via additional capital charges on these assets, the European Insurance and Occupational Pensions Authority (EIOPA) has suggested.

COP28: US insurers propose plan to ensure insurance cover as catastrophes grow

The US National Association of Insurance Commissioners (NAIC) has proposed a national climate resilience strategy to help ensure the availability of property insurance in the face of severe disasters.

Lloyd's launches framework to assist market in transition to net zero

Lloyd's of London has launched its long-awaited draft roadmap for how the re/insurance market will approach the transition to net-zero emissions.

UK regulators propose rules on diversity and inclusion

The UK's financial regulators have issued consultations on improving diversity and inclusion (D&I) in financial industries, an issue that is "important to governance and firm-wide culture" and supporting effective risk management.

Insurers set for mandatory transition plans in Solvency II reforms

Insurers would be required to publish plans for reaching net zero by 2050, under draft rules approved by a European Parliamentary committee.

Eiopa launches free app to help with physical climate risk modelling

The European Insurance and Occupational Pensions Authority (Eiopa) has launched free software in a bid to help bring climate and natural catastrophe modelling to a wider range of users.

We need a safe space to disclose transition plans, says Aviva's Amanda Blanc

Aviva's chief executive Amanda Blanc has urged regulators to create a "safe environment" for insurers to publish their plans for how they will transition to net-zero emissions without fear of reprisals.

Ariel Re to offset carbon in novel cat bond transaction

Property, casualty and specialty reinsurer Ariel Re has issued a $125m catastrophe bond with a mechanism that will help offset carbon emissions associated with having to replace damaged property.