Reducing Emissions
- Industry must make quantitative progress in reducing carbon emissions
- Methodologies and frameworks will need to be in place to measure this progress
- Carriers must ensure clients have robust low-carbon transition plans before allocating capacity
Enabling Transition
- Brokers and carriers can work with clients to help firms manage their journey to net zero
- “Stick and carrot” approach can help change behaviour as economy transitions away from carbon
- Industry can develop products which enable the development of new technologies for low-carbon future
Building Resilience
- Solutions to close information gap can help industry develop risk transfer tools that help build societal resilience
- Innovative parametric tools can play important role in reducing economic hardship following climate-enabled events
- By “building back better” the industry can help create a more resilient society
Educating Society
- Industry can help communities understand, prepare for and reduce climate-related risks
- Initiatives can help educate client base and guide them through their own path to net zero
- These measures will in turn help reshape perceptions of the industry and potentially attract new talent
Reducing Emissions
Tokio Marine claims carbon neutrality in FY23 through mangrove planting project
Zurich targets 20% slash in large corporate portfolio emissions in new transition plan
LMA and IUA publish sustainability data standard for underwriters
Insurers to disclose nature-related exposure as portion of GDP or total sums insured
Aon sets focus on reservoir integrity in latest carbon insurance market innovation
CFC adds carbon cancellation insurance to growing carbon credit offering
Gallagher Specialty launches Bosley-led carbon insurance solutions service
Almost two-thirds of brokers have no net-zero plan as costs and resources pose barriers: Aviva
PPMI members adopt IMO target for net-zero shipping by 2050
Carbon insurance: Distinct product categories emerge as market expands
Activists target brokers at flagship Biba conference
Aon launches carbon capture and storage insurance solution
Building Resilience
Microinsurance Network looks to scale up inclusive insurance capacity across Africa
Axa Climate warns of sovereign risk mispricing due to nature and biodiversity loss
The climate crisis is getting worse: here’s how insurance is helping
Aon-brokered IFRC policy triggered for first time after Yagi tips payouts over threshold
Axa Climate continues as Mesoamerican Reef Fund capacity provider in fourth annual placement
African Risk Capacity’s Diong to lead loss and damage fund
Industry-backed Humanity Insured unveils three climate resilience grants
Fostering climate resilience and ensuring inclusive access to insurance
Beryl-battered Grenada becomes first to use government bond hurricane clause
World Bank provides $125mn grant to fund parametric drought insurance in Somalia
ARC to implement new World Bank programme for rapid disaster risk transfer
Howden calls for sovereign mechanisms and accessibility in small island states