Download or read book The Indian Insurance Industry and Climate Change written by TERI Project Team and published by The Energy and Resources Institute (TERI). This book was released on 2006-01-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Climate Change and the Insurance Industry in India written by Janardhana Anjanappa and published by Eliva Press. This book was released on 2023-06-22 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims to assess the potential role of insurance in alleviating climate change risks in India. It does this by exploring the unique challenges and opportunities that the Indian insurance industry faces in integrating climate risk insurance into its risk management strategies. The study also examines the comprehensive research on the Indian insurance industry's response to climate change and try to combines insights from fields such as economics, finance, environmental science, and policy. The study finds that the Indian insurance industry is facing a number of challenges in addressing climate change risks. These include affordability and availability of coverage, the growing financial burden on insurance companies, limited historical data, uncertainty in risk assessment, long-term liabilities, and the potential for moral hazard. However, the study also finds that there are a number of opportunities for the insurance industry to address these challenges and contribute to climate change resilience. These include collaboration and knowledge sharing between insurers, policymakers, scientists, and other stakeholders, the development of innovative insurance and risk management products, education and awareness initiatives, and investments in renewable energy and low-carbon technologies. Overall, the study finds that the challenges posed by climate change in the insurance industry require proactive and collaborative approaches. By embracing these opportunities and developing innovative solutions, insurers can contribute to building resilience, reducing risks, and promoting a sustainable response to climate change.

Download or read book The Impact of Climate Change and Sustainability Standards on the Insurance Market written by Kiran Sood and published by John Wiley & Sons. This book was released on 2023-08-22 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Impact of CLIMATE CHANGE and SUSTAINABILITY STANDARDS on the INSURANCE MARKET The book explores the role of the insurance industry in contributing and responding to the harms that climate change has brought. This book delves into the physical and logical impacts, both direct and indirect, on the insurance industry. Subjects discussed include new technology such as big data, artificial intelligence, machine learning, the growth of sustainable economics with foreign direct investments (FDIs), trustworthiness, and ethics. Related use cases of data science for claim processing, fraud detection and prevention, policy administration, pricing, and underwriting are discussed along with cyber security issues, data protection, and big data regulatory reforms. To promote ESG sustainability, the insurance industry plays a critical and significant role. Climate-related risks are being factored into underwriting and investing strategies. Through their own operations and business activities, insurers may promote the ESG agenda and move towards sustainability. Also discussed are promoting diversity and inclusion, lowering greenhouse gas (GHG) emissions, resolving gender inequality, and helping communities through charitable work, which all improve a company’s brand, reputation, and ESG credentials. Audience The book is specially designed for administrators, lecturers, researchers, students of insurance and sustainability, students in financial services, insurance practitioners, actuaries, loss adjusters, underwriters, regulators, facilities management, utility companies, voluntary organizations, government departments, business leaders, policymakers, decision-makers, investors, risk managers, compliance managers, and audit managers amongst many others.

Download or read book Climate Change and the Insurance Industry written by Joel N. Gordes and published by . This book was released on 1996 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Implications of Climate Change for the Insurance Industry written by David Crichton and published by . This book was released on 2001 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Insurance Climate Change and the Law written by Franziska Arnold-Dwyer and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The insurance industry has found itself at the front line of climate change challenges, providing insurance cover in relation to risks associated with climate change. As risk carriers, insurers pay claims for climate change related losses - such as property damage caused by windstorms, flooding, and wildfires - which have been increasing in frequency and severity. As major institutional investors, insurance companies invest in assets that may be increasingly vulnerable to climate risks. Insurance regulators across the globe have therefore started to require insurance companies to identify, manage and report on climate change risks that could pose a threat to their financial stability. However, managing and reporting on the effect of climate risk on an insurer's balance sheet is an inward-looking perspective that does not stem climate change. It needs to be paired with an outward-looking perspective that takes account of the insurance industry's impact on the environment, and the insurance industry's capacity to influence what policyholders, investee enterprises and other business partners do to address climate change challenges. For the insurance industry, the key components of positive outward impact are "impact underwriting" and "impact investment". This book sets out the current legal and regulatory landscape for impact underwriting and impact investment. Whilst the focus of research and regulatory interventions to date has been on inward impact, in this book it will be argued that, to take positive climate action that supports the Paris Agreement goals and the national and international Net Zero targets, the debate should now move on to considering the positive outward impact the insurance industry can make, and how we can create a legal environment to facilitate this. The book puts forward the case for a new vision of the role of the insurance industry as climate action enablers and makes proposals for insurance products and risk transfer and loss resilience structures that can support policyholders in their transition to a Net Zero economy. The audience for this book will include legal practitioners, insurance industry professionals, financial and insurance regulators, policymakers and interested academics"--

Download or read book Climate Change and the Insurance Industry written by Research Reports International and published by . This book was released on 2005 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Insurance Industry and Climate Change written by International Association for the Study of Insurance Economics and published by . This book was released on 2009 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book U S Insurance Industry Perspectives on Global Climate Change written by Evan Mills and published by . This book was released on 2001 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Joint Public Hearing the Insurance Industry Response to Global Climate Change written by New York (State). Legislature. Assembly. Standing Committee on Insurance and published by . This book was released on 2003 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Life Insurance Industry in India Current State and Efficiency written by Tapas Kumar Parida and published by Palgrave MacMillan. This book was released on 2019-01-20 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book traces the development and analyses the performance of life insurance industry in India, since inception of this sector, using different business indicators over the years. It discusses the evolution and changing features of the Indian insurance industry in 3 phases: phase I from 1818 to 1956, phase II from 1956 to 2000 (known as the nationalisation period) and phase III post 2000 (called the post reform period). The book also measures the relative efficiency and productivity of the life insurance industry in India for the post-reform period, by employing Data Envelopment Analysis (DEA). Despite the fact that the life insurance sector recorded a compound annual growth rate (CAGR) of 17% in terms of total premiums and 21% in terms of new business premium collections during the post reform period, the insurers continue to grapple with the issue of profitability. Against this background, the book presents results on the factors determining profitability of the life insurance companies using measures of efficiency and competition. By helping regulatory authorities determine the future course of action in the context of entry of foreign insurers and also in establishing a level playing field, the book has important policy implications. Dr Tapas Kumar Parida is an Economist with more than 8 years of work experience in macroeconomic research and planning in banks and research organisations, with diversified academic achievement. Presently, he is working as an Economist at Economic Research Department of State Bank of India (SBI is the biggest commercial bank in India), Corporate Centre, Mumbai. Prior to joining SBI, he has worked with organisations like Indian Bank, Axis Bank Ltd., Planning Commission, New Delhi, Higher Education Department of Government of Odisha and Xavier Institute of Management Bhubaneswar (XIMB). He is a Certified Associate of Indian Institute of Banking and Finance (CAIIB) from Indian Institute of Banking and Finance (IIBF), Mumbai, India. He has been awarded a PhD in Economics from School of Economics, University of Hyderabad (India). He also holds a Master Degree in Finance and Control (MFC) (which is at par with MBA, Finance) from University of Delhi (India). He writes regularly for a number of magazines and blogs. His publications have appeared in The Global Banker Magazine, Journal of Business Management & Social Sciences Research, Insurance Regulatory and Development Authority India (IRDAI) Journal, the Insurance Institute of India Journal and the Bank Quest. Dr Debashis Acharya is currently a Professor in the School of Economics, University of Hyderabad, India. He has been teaching undergraduate and postgraduate courses for the past eighteen years. His areas of interest are: monetary economics, macroeconomics, and financial economics. Prior to joining University of Hyderabad he was with the Department of Humanities and Social Sciences, Indian Institute of Technology Madras, Chennai, and Department of Economics, Punjab University, Chandigarh. He has published in the areas of macro-monetary economics and financial economics in national and international refereed journals like International Journal of Emerging Markets, Economic and Political Weekly, Journal of Economic Studies, European Journal of Operational Research, International Research Journal of Finance and Economics, Banks and Bank Systems, South Asia Economic Journal, Global Journal of Emerging Market Economies and Artha Vijanana.

Download or read book Climate Change and the Insurance Industry written by Center for Science and Public Policy and published by . This book was released on 2005 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Climate Change and the Insurance Industry written by Maryam Golnaraghi and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Climate Change and Insurance written by Eugene N. Gurenko and published by Routledge. This book was released on 2015-02-13 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change brings about a new set of major economic risks arising from changing weather patterns, extreme weather events and rising sea levels. Most at risk are developing countries who, despite considerable post-disaster donor aid, have been bearing the major brunt of disaster-related losses. One adaptation solution that is rapidly gaining the support of countries and international donors is a risk transfer to the global reinsurance and capital markets. This volume, a special issue of the journal Climate Policy, explores the role that insurance-based mechanisms can play in helping developing countries prepare for climate change. It offers a unique and comprehensive perspective on the potential role of insurance solutions in global adaptation to climate change and attempts to engender debate on the role of insurance in reducing global emissions and encouraging climate-friendly corporate behaviour.

Download or read book Reflections on the Future written by Angus Ross and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book OLR Backgrounder implications of Climate Change for the Insurance Industry written by Kevin Edward McCarthy and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses risks, uncertainties, and opportunities associated with climate change confronting the insurance industry.

Download or read book Insuring Climate Change Science Fear and Value in Reinsurance Markets written by Leigh Taylor Johnson and published by . This book was released on 2011 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The planet's changing climatology poses epistemological and practical problems for insurance institutions underwriting weather or property risks: models based on meticulously calculated empirical event frequencies will not project risk in a changing climate system. Seeking to explain the unprecedented scale of recent insured losses, media pieces regularly articulate a narrative that links climate change to an immanently insecure future. This logic has prompted some scholars to place climate change in a new category of risks generated by industrial society that are fundamentally incalculable and uninsurable. This dissertation challenges the epistemological assumptions and empirical validity of the "uninsurability hypothesis" using the case study of (re)insurance and catastrophe modeling for North Atlantic tropical cyclones. In so doing, it turns a critical eye on the depoliticized discourse of climate change emergency. The research analyzes the development of insurance institutions and definitions of climate change risk over time, applying the theory that risks are reconstructed phenomenon of multiple contingency which always embody contested classificatory and causal stories. Research included over forty extended interviews with academic, regulatory, and private sector employees; observation at thirteen industry, academic, and regulatory conferences; and qualitative and quantitative analysis of corporate and regulatory documents and datasets. The findings trace new constellations of science, value, and fear that are emerging within the (re)insurance industry as it attempts to assess and manage climate risks and secure new paths to accumulation. Three major themes emerge. First, the dynamics of climate change are being integrated into circuits of insurance and financial capital. The perception of climate risk may buoy the (re)industry's business prospects in the short term by reproducing uncertainty and allowing firms to exclude certain risks from all-perils coverage and repackage them into new products. Climate risks may be incorporated into the central contradictory dynamic of the catastrophe reinsurance market, which requires the continual recurrence of catastrophic losses and devaluation in order to sustain pricing and accumulation in the long term. Meanwhile, investment capital is accessing new risk premiums from the insurance sector through catastrophe bonds, the market for which demonstrates a strategic and selective attempt to capture "returns on place" by finance capital, rather than an "escape" from uninsurable places on the part of (re)insurers. Second, within both the industry and scientific community, the question of how climate change is influencing catastrophic losses or will do so in the future is far from settled, despite its representation as a closed "matter of fact". Furthermore, most (re)insurers do not currently account for climate change in their daily underwriting and pricing, and often cite the possibility of compensating for climate effects through future annual adjustments to prices and policies. This apparent contradiction between discourse and practice is the result of a complex set of institutional, political, and economic factors rather than a systematic attempt to deceive the public or exaggerate risks. Third, privatized economies of science - and particularly probabilistic catastrophe models - are central tools for climate risk management through (re)insurance markets. The expertise of PhD-credentialed scientists is increasingly used in industry contexts to publicize climate change risks, legitimate moves towards five-year forward-looking catastrophe models, and to commodify climate risks into financial exposures and assets. These findings draw our attention the (re)insurance industry's dependence on the perpetual multiplication of fear and value via technocientific risk identification, and suggest the profound limitations of attempts to manage climate risks and anxieties through market mechanisms.