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News
Income Insurance commits $528m to climate investments
6+ day, 9+ hour ago (310+ words) The insurer is working toward a S$1b climate transition financing target. Income Insurance has committed $527.9m (S$945m) to green and climate-related investments as it works towards its $558.7m (S$1b) climate transition financing target, according to its 2025 Sustainability Report. The Singapore insurer said…...
Parametric moves beyond weather as Howden Re builds dedicated practice
6+ day, 23+ hour ago (392+ words) Insurance Business Parametric moves beyond weather as Howden Re builds dedicated practice Record allocations in a soft market signal that parametric is now a standing part of reinsurance programme design Parametric reinsurance allocations reached record levels in 2026 despite the softest…...
Insurers must brace for US$171 billion in annual cat losses, study finds
1+ week, 5+ day ago (762+ words) The global insurance industry did not get a quiet year in 2025. It got a year without a US landfalling hurricane that still produced more than US$100 billion in insured losses, for the sixth consecutive year. The average annual loss (AAL)…...
Rebuild costs outpace inflation, exposing sum insured gaps
1+ week, 6+ day ago (465+ words) The analysis, published as part of the ICA's annual Insurance Catastrophe Resilience Report, draws on Cotality's Cordell Construction Cost Index (CCCI). It shows building costs rose around 30% in the five years to March 2026, against consumer price index growth of about 24% over…...
Parametric insurance just paid out for a coral reef for the first time in the US
2+ week, 5+ day ago (202+ words) Hurricane Lala triggered a $200,000 payment on a policy built to protect a natural asset rather than a building. For an industry still selling the promise of parametric coverage, it's a rare real-world proof point. When Hurricane Lala hit the Big…...
Five heatwaves, flash floods, and a 3.9% rise in rebuild costs - the case for reviewing sums insured
3+ week, 2+ day ago (472+ words) Insurance Business Five heatwaves, flash floods, and a 3.9% rise in rebuild costs - the case for reviewing sums insured Seven in 10 flood claims are now surface water events. Rebuild costs rose 3.9% to July 2026. A sum insured set two years ago may…...
Europe's heatwaves expose insurance gap as business losses mount
3+ week, 3+ day ago (776+ words) A large part of Europe is in the grip of its fifth heatwave of the summer. That includes France, where temperatures in parts of the country have soared to 40 degrees Celsius, triggering a wildfire in the southwest. Monte Francis has…...