Российские аграрии потеряли миллиарды из-за погоды

В российских регионах, в которых был объявлен режим чрезвычайной ситуации (ЧС) из-за потерь в сельском хозяйстве, было застраховано более полутора миллионов гектаров посевов, пишет «Коммерсантъ» со ссылкой на данные Национального союза агростраховщиков (НСА). Всего с ЧС на фоне экстремальных погодных условий, засух и других природных бедствий к моменту подготовки оценок столкнулись 13 субъектов, в девяти из них аграрии заключали договоры на страхование урожая.

С начала года по 11 августа представители сельского хозяйства заявили об ущербе в 19 миллиардов рублей. Однако, как объяснил глава НСА Корней Биждов, сумма может быть меньше. «Практика предыдущих лет показывает, что по мере подтверждения экспертизой оценка уменьшается приблизительно в два раза», — рассказал он. Комиссии по ЧС, которые в регионах создают местные минсельхозы, только начали свою работу. Министерство сельского хозяйства России получит точные подтвержденные сведения к осени.

Глава страхового брокера «Ростеха» — «РТ-Страхование» Николай Галушин при этом пояснил, что в сельском хозяйстве страхуется не более 10 процентов посевов. Общие убытки российских страховщиков от чрезвычайных ситуаций в 2021 году он оценивает в размере до трех миллиардов рублей. В сегменте страхования имущества физических и юридических лиц страховщики вряд ли потеряют из-за ЧС существенные деньги. Скорее всего, больше всего выплат придется на юридические лица, например, из-за ущерба железнодорожным объектам или имуществу энергетиков.

ПОЛНАЯ ОРИГИНАЛЬНАЯ ПУБЛИКАЦИЯ ЗДЕСЬ

Germany & China see costliest disaster losses ever from July flooding: Aon

Both Germany and China have experienced their most costly insured natural disaster loss events in history in July, with both largely related to the impacts of devastating flooding, according to insurance and reinsurance broker Aon.

Germany is expected to face around US $20 billion in economic losses, while across Europe the July flood event is estimated to have cost more than $25 billion.

Of this, Germany is estimated to be facing $5.3 to $6.5 billion of insurance and reinsurance market losses from the flooding, while the rest of Europe is anticipated to be facing at least another US $1.2 billion of insured losses as well.

FULL ORIGINAL PUBLICATION HERE

As ESG transparency factors into renewals, what does that mean for ILS?

Broking powerhouse Aon has highlighted that environmental, social and governance (ESG) transparency is increasingly a factor in commercial and business insurance renewals, which suggests this will eventually cascade to reinsurance and retrocession renewals as well.

Commenting specifically on insurance renewals, Aon explains that ESG transparency is increasingly demanded of protection buyers, as major insurers become more focused on paring down their exposure to industries and businesses deemed not to meet ESG standards.

Environmental, social and governance (ESG) discussion is often focused on the investment side of the insurance and reinsurance industry, also in insurance-linked securities (ILS).

FULL ORIGINAL PUBLICATION HERE

В России проработают меры обязательного страхования в районах с рисками ЧС

Правительство России к ноябрю проработает предложения о целесообразности обязательного страхования граждан в районах с высокими рисками возникновения чрезвычайных ситуаций. Соответствующий пункт содержится в списке поручений по результатам совещания о ликвидации последствий ЧС на Дальнем Востоке, опубликованном на сайте кабмина.

«Представить предложения о целесообразности использования комплексного механизма обязательного страхования имущества физических и юридических лиц, а также жизни и здоровья граждан в зонах с высокими рисками возникновения чрезвычайных ситуаций от ущерба, причиненного в результате чрезвычайных ситуаций», — говорится в документе.

Соответствующее поручение адресовано министерству финансовМЧС, а также остальным федеральным и региональным органам власти. Уточняется, что данный вопрос должны проработать с участием страховых организаций и профессиональных объединений страховщиков.

Срок исполнения поручения — 1 ноября 2021 года.

ПОЛНАЯ ОРИГИНАЛЬНАЯ ПУБЛИКАЦИЯ ЗДЕСЬ

China urges focus on disaster insurance product development

The Chinese government via its regulator has urged its insurance and reinsurance industry to focus on developing new products for disaster risk transfer and to help in covering more of the natural catastrophe risk in the country, given the current evident protection gap that exists.

Recent flooding in Henan province in China has provided yet another example of thee massive gap between economic losses from natural disasters, catastrophes and severe weather events and the amount actually covered by insurance.

With the Henan flooding now set to become the biggest insured catastrophe loss in China’s history, it drives home the importance that the country continues to evolve its insurance and reinsurance market, especially in terms of disaster coverage.

FULL ORIGINAL PUBLICATION HERE

Red Cross targets cat bonds for nature-based, humanitarian, resilience financing

The Red Cross, working alongside insurance-linked securities (ILS) risk securitisation facilitator and risk transfer consultancy Replexus Group, is developing a solution to promote nature-based solutions to disaster risk, financed partly through the use of catastrophe bonds, as well as other humanitarian and development scenarios.

Recently, the Danish Red Cross successfully delivered the world’s very first catastrophe bond covering pure volcanic eruption risk.

The organisations innovative finance team have been exploring other use-cases for catastrophe bonds and insurance-linked securities (ILS), around areas where it feels supporting capacity from the capital markets can both take on exposure to natural disasters, while helping its own funding work harder and do more.

FULL ORIGINAL PUBLICATION HERE

Insured losses from China’s Henan floods could exceed $1.25bn, says Fitch

The recent severe flooding in China’s Henan province is expected to suppress underwriting margins for the China non-life insurance and reinsurance industry in 2021, with total industry losses expected to exceed US $1.25 billion, according to Fitch Ratings.

At this level of insurance and reinsurance industry loss, it would account for more than 0.7% of the market’s entire premium base, the rating agency has explained.

As we explained last week, Henan in east-central China experienced torrential rainfall since July 16th, triggering devastating floods and landslides.

The equivalent of a year’s average rain fell for three consecutive days in Zhengzhou, the provincial capital, damaging thousands of properties and motor vehicles in the region.

FULL ORIGINAL PUBLICATION HERE

Cat bond not a “handout”, Jamaica aims to renew by itself: Minister

The fact foreign donors paid for the premiums associated with Jamaica’s first catastrophe bond does not mean it was a “handout” the country’s Minister of Finance has explained.

Jamaica’s first catastrophe bond, the recently placed IBRD CAR 130 transaction, was priced and saw the Caribbean island nation securing the upsized target of $185 million of coverage last week.

Helping Jamaica to access disaster insurance from the capital markets were the World Bank and its Treasury, which facilitated the transaction and worked on the deal for around three years.

FULL ORIGINAL PUBLICATION HERE

Jamaica’s World Bank catastrophe bond could upsize to $185m

The first catastrophe bond for Jamaica, which as we were first to report ten days ago launched as a $175 million IBRD CAR 130 transaction with the support of the World Bank, is now said by our sources to have a chance of closing a little larger, at $185 million in size.

The $175 million or greater catastrophe bond seeks a capital markets backed source of named tropical storm and hurricane disaster insurance protection for the government of Jamaica, on a parametric trigger basis.

As we’d also reported recently, important grant agreements had been signed and as a result the first catastrophe bond for Jamaica was expected imminently.

That proved correct, when our sources told us the deal had been launched to investors ten days ago and we reported on the structure being offered and the protection it will afford to Jamaica’s government.

FULL ORIGINAL PUBLICATION HERE

UZBEKISTAN: UNDP helps develop the insurance sector in Uzbekistan

UNDP, together with the Agency for the Insurance Market Development at the Uzbek Ministry of Finance, organized a seminar on June 24, 2021, during which the results of the diagnostics of the development of inclusive insurance and risk financing in Uzbekistan were presented, UzDaily.uz reports.

It was noted that due to the vulnerability of Uzbekistan to natural disasters, which can bring devastating consequences for the economy and the population, as well as the insufficient development of the insurance market and the lack of tools for inclusive insurance and risk financing, the government, enterprises, and households of the country suffer financial losses amounting to millions of USD.

UNDP established a special Risk Insurance and Financing Fund (Mechanism) to provide technical assistance to countries participating in the climate risk insurance program, including Uzbekistan, to develop inclusive insurance, financing sovereign risks, and integrate insurance into development planning and financing processes. At the first stage, the task was set to diagnose the insurance industry in the country, and the results of this study, as well as the recommendations of experts on the development of this sector, were discussed during the seminar.

FULL PUBLICATION HERE