Non-life

Climate-linked catastrophe losses have surged over the past decade

The existence of global warming and the link to extreme weather is still a matter of debate among certain groups. However, the (re)insurance industry would do well to at least be suspicious.

Let's talk about it...

Is this a reckless debate?

Whether or not a non-life insurer should indemnify an insured for damage to his or her motor vehicle following an accident that is wholly due to reckless behaviour by the insured has been the subject of countless debates, spanning decades. The subject is under scrutiny again following a recent media release by the joint Insurance Ombudsman, in which it warned of a rising number of claims disputes over the so-called duty of care clause; the argument being that driving recklessly by disobeying traffic laws constitutes a breach of same.

Shipping losses fall, but Ukraine war, costly issues with large vessels, the shipping boom, and sustainability concerns muddy the waters