Insurance

EIOPA says Omnibus means it needs to delay insurers' sustainability risk standards

The EU's insurance supervisor has asked for a delay to its work on standards for insurers' sustainability risk disclosures, arguing that the proposed Omnibus package creates uncertainty that makes its work harder.

BlueOrchard backs extreme weather risk solution provider

First climate insurance payout for coffee farmers

Raise insurers' capital requirements for fossil fuel assets, EU urged

Tweak Solvency II to make it easier to invest outside OECD, says Banque de France

A senior representative of the Banque de France has called for the European capital adequacy regime for insurers to be amended to allow more investment in non-OECD countries.

US Treasury's insurance office withdraws from NGFS, citing Trump order

Eiopa proposes adjusting Solvency II standard formula calibrations for natcat risks

The European Insurance and Occupational Pensions Authority (Eiopa) has recommended new risk factors for natural catastrophes (natcats) in the Solvency II standard formula capital calibrations.

'Don't wait for next disaster' before tackling climate risk, BaFin tells banks, insurers

The president of Germany's financial supervisor has told banks and insurers they need to collect better data and improve forward-looking analysis, as he warned them not to "wait for the next disaster" before addressing physical climate risks.

US mortgage industry needs to price climate risk 'more realistically', says Delterra Capital

The US mortgage industry is not yet factoring in physical climate risk as "realistically" as is needed, but this could become more likely with the potential privatisation of lenders Fannie Mae and Freddie Mac, Delterra Capital has said.

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

No insurers' models robustly capture nature risk, says Aviva nature lead

No insurance company can currently claim its models capture nature considerations robustly, according to Thomas Viegas, nature strategy lead at UK-based insurer Aviva.

Life and health insurers begin exploring underwriting emissions reductions

Life and health insurers are starting to explore the potential of reducing greenhouse gas (GHG) emissions through their underwriting practices.

Insurance's annual renewal model is 'no longer fit for purpose'

The annual renewal model that is commonplace within the insurance industry "is no longer fit for purpose in a world that's in transition", a conference heard.

Nature-positive guide launched for insurers