Are we mispricing climate risks or not pricing them at all? msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Engaging the insurance sector in making roads safer
1013062 SHARE
Road traffic crashes are one of the leading causes of death globally 1.25 million people are estimated to be killed on the roads each year, representing more than 3,400 deaths per day equivalent to more than 141 deaths per hour while another 30 to 50 million people are injured every year.
Road crashes are responsible for more deaths than malaria, suicides and homicides and are the only non-disease-related cause among the ten leading causes of death ranked by the World Health Organization (WHO).
Road crash deaths are estimated to rise to 1.9 million by 2020 due to increased motorisation across the world, especially in low and middle income countries (LMICs), which are highly likely to experience the greatest increases in future fatality rates.
ESG targets: More carrot, less stick
April 29, 2021
Environmental, Social, and Corporate Governance (ESG) can lead to greener, more responsible investment. But standards remain irregular: creating common denominators will be crucial.
The subject of Environmental, Social, and Corporate Governance (ESG) continues to take increased prominence in public and private debate, but their remains much to determine in how these principles should be implemented across emerging Europe.
According to Jeffrey Liebert, CEO of Gazelle Finance – which is involved in frontier financing and engaged in helping implement ESG practices in the countries of the former USSR – ESG is an opportunity to raise companies’ performance.
UN report puts climate change at heart of insurance risk assessment
Out-Law News | 02 Feb 2021 | 1:46 pm | 2 min. read
A report produced by the United Nations (UN) in collaboration with 22 major insurance firms has suggested that the insurance industry needs to adopt an integrated approach in order to manage future climate change risk.
The final report of the UN’s Environment Programme’s Principles for Sustainable Insurance Initiative (107 page / 1.6MB PDF), which aims to pilot recommendations from the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TFCD), assessed climate-related physical, transition and litigation risks in an integrated manner with a focus on scenario analysis.
To embed, copy and paste the code into your website or blog:
Recent regulatory developments of interest to insurers and their intermediaries. See also our General regulatory news in the Related Materials links.
Contents
How competitive are UK insurance markets? Bank Underground article
TCFD recommendations: UNEP FI pilot report and guidance for insurers
COVID-19: Supreme Court judgment in FCA s BI insurance test case
On 15 January 2021, the Supreme Court handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 on the issues on appeal from the High Court in the test case brought by the FCA seeking legal clarity on the meaning and effect of certain non-damage business interruption (BI) insurance policy wordings. The FCA has published a press release and updated its dedicated webpage on the test case to summarise the key aspects of the judgment and outline the next steps.