Is it time for China to embrace catastrophe insurance?

Quick Summary:

Such policies can compensate natural disaster victims and drive climate action, but insurers and consumers are cautious.

Particularly in areas where catastrophe insurance is market-led, increasing numbers of natural disasters can be expected to lead to bigger payouts and so higher premiums.

From an underwriter’s point of view, insurance companies need to consider catastrophe risks and then set premiums to cover their expected payouts and operating expenses, with a little left over for profits.

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Article Details

Author / Journalist: Niu Yuhan

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Disaster relief Typhoon Global warming Climate Insurance Energy transition Multilateral development bank Renewable energy Climate finance Natural disasters Energy Extreme weather Philanthropy Emissions Heatwaves Wind Decarbonisation Floods Climate risk World Bank Financing

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-18 @ 03:30:00 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1886 words

Reading Time: 11 minutes read

Sentences: 92 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 22577055

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About Eco-Business

Main Topics: EconomyBusiness

Official Website: eco-business.com

Update Frequency: 2 posts per day

Year Established: 2009

Headquarters: Singapore

News Last Updated: 23 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #100

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