Veille 2.1

Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time as climate change contributes to the frequency and severity of violent meteorological events. The reinsurer Swiss Re Group said Wednesday that damages from convective storms in the U.S., which can come with hail, lightning, heavy rain and high winds, accounted for nearly 70% of the $50 billion in global catastrophic damages so far this year. The storms in the U.S. were so severe, there were 10 that resulted in damages of $1 billion or more, almost double the average over the last decade.

State Farm will almost entirely stop issuing new policies in California – with climate-exacerbated wildfires and bad public policy a large reason why

A United Nations-convened climate alliance for insurers suffered at least three more departures on Thursday including the group's chair, as insurance companies take fright in the face of opposition from U.S. Republican politicians.

Hundreds of students and graduates vow not to work for ‘climate wreckers that insure those responsible for the climate crisis’

Most expensive storm cost $100bn while deadliest floods killed 1,700 and displaced 7 million, report finds

New coal power projects are becoming “effectively uninsurable” outside China because so many insurance companies have ruled out support for them, a report has found. Recent commitments to stop underwriting coal by prominent US insurers AIG and Travelers have brought the number of coal insurance exit policies to 41, according to the latest industry scorecard by the climate campaign Insure Our Future.

With the Australian Actuaries Institute Climate Index reaching the highest rainfall and temperature levels since the index was launched in 2018, it is not surprising that the Actuaries Institute’s latest Green Paper has warned of climate change’s impact on home insurance affordability in Australia.

As threats grow, FEMA is overhauling its risk rating system for its national flood insurance program - which could have implications for vulnerable home owners

Climate risk, a growing focus for environment, social and governance-minded investors, has morphed into an urgent issue for insurers as wildfires ravage the U.S. and Europe and natural disasters destroy property and cost lives worldwide.